Bermudian-based Hudson Structured Capital Management has acquire a seasoned portfolio of insurance-linked-securities from specialist ILS manager Twelve Securis.

The move came shortly after the asset management firm raised $110 million to launch new fund HS Sawmill LP.

Online financial publication Artemis said the deal between Twelve Securis and HSCM demonstrated the increasing sophistication of market players and growing maturity of the ILS sector.

“With life ILS always having been a relative niche market the list of possible sellers was not especially long,” Artemis said.

In an announcement yesterday, HSCM said it was excited to use its newly raised fund to support development of secondary liquidity in the life ILS asset class.

Christoph Bürer, founding partner and president of Twelve Securis told Artemis: “As an investment manager, it is our duty to continuously optimise outcomes for our investors. At times, portfolio management activities include exiting illiquid positions to achieve investment objectives and when executing on such transactions Twelve Securis have been working with the broader market and multiple parties.”

Dr Bürer was pleased to participate in the developing secondaries market, to benefit investors seeking finality.

“In such context, it is fundamentally important for investment managers to responsibly balance liquidity and value preservation on behalf of investors,” he said.