Log In

Reset Password
BERMUDA | RSS PODCAST

HSCM Bermuda announces closure of HS Mohawk Fund

First Prev 1 2 Next Last
Gokul Sudarsana, chief investment officer for Life Insurance, and chief actuary, HSCM Bermuda (File photograph)

Hudson Structured Capital Management Ltd, conducting its insurance business as HSCM Bermuda, has closed on its continuation fund, HS Mohawk Fund I LP with more than $175 million of capital commitments led by global private markets investment firm StepStone Group and existing HSCM investors.

The Mohawk Fund was established to acquire interests in five asset-intensive life insurance investments held by HSCM Bermuda Fund Ltd, HSCM’s multi-sector (insurance and) reinsurance fund, to support the portfolio assets’ continued growth while offering existing Bermuda Fund investors an option for near-term liquidity.

The company said the launch of the Mohawk Fund marked an important step in HSCM’s continuing investment into asset-intensive life insurance.

It added that HSCM had built diversified sourcing capabilities and become a partner of choice for structuring bespoke transactions with leading sponsors in the space.

In connection with the closing, HSCM said it had named Gokul Sudarsana its chief investment officer for Life Insurance, in addition to his role as chief actuary.

“We are delighted to announce the successful closing of the [Mohawk] Fund and continue to be a trusted capital partner to our portfolio companies and drive value creation for our investors,” said Mr Sudarsana.

“This transaction marks an exciting milestone in our growing life insurance franchise and we look forward to our continued collaboration and partnership with StepStone.”

Geoff Dolan, partner at StepStone, said: “This transaction serves as a testament to our goal of partnering with best-in-class sponsors to provide capital solutions for their highest quality assets and liquidity options for existing investors.

“We are excited to build on our partnership with HSCM and support the firm’s continued success in the asset-intensive life insurance space.”

Geoff Dolan, partner at StepStone (File photograph)

You must be Registered or to post comment or to vote.

Published April 12, 2024 at 3:11 pm (Updated April 14, 2024 at 5:14 pm)

HSCM Bermuda announces closure of HS Mohawk Fund

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon