Appleby Bermuda has advised MultiStrat, a Bermudian-based collateralised insurer and reinsurance investment platform, on a strategic investment from a large institutional asset manager with more than $100 billion of assets under management.

The investor will provide capital and a liability-matching portfolio focused on private and structured credit assets, with the funds supporting casualty reinsurance risk underwritten and managed by MultiStrat. Deutsche Bank Securities acted as structuring and placement agent.

Brad Adderley, Appleby’s Bermuda managing partner, said: “MultiStrat is a trailblazer in the [insurance-linked securities] space, offering a unique exposure to casualty risk through a bespoke and flexible platform, backed by deep underwriting and management expertise.”

Earlier this year, Appleby also assisted MultiStrat with obtaining its collateralised insurer licence, as well as registration as Bermuda’s first segregated account company and incorporated segregated account company.