HSCM leads Gracie Point $50m capital raise
Hudson Structured Capital Management Ltd has led a $50 million capital raise for Gracie Point Holdings, LLC, a global provider of life insurance premium finance.
Hudson carries out its re/insurance business on the island as HSCM Bermuda.
The infusion of capital will be used to fund continued Gracie Point's growth in the US and Asian markets, the launch of the company's Canadian operation, and to further enhance its global funding capabilities. This is Gracie Point's third successful capital raise.
Michael Millette, managing partner of HSCM Bermuda, said: “The opportunity to build a global premium finance company in the life insurance space that is connected to the capital markets is one that we think will fundamentally shift how life insurance is bought and sold, and we have enjoyed our many year partnership with Gracie Point who we view as the market leader in the space. We are excited about this next phase of growth for the company.”
Harish Raghavan, chairman of Gracie Point said: “Gracie Point is uniquely qualified to provide flexible and innovative financing solutions in the global premium finance market. This latest round of capital allows us to continue our rapid growth and expand our platform in the United States, Canada and Asia.”