Bermudian-based Hudson Structured Capital Management Ltd, conducting its insurance and reinsurance business as HSCM Bermuda, has supported a capital raise by Gracie Point Holdings LLC, a global provider of life insurance premium finance.

Gracie Point said its capital raise was led by funds advised by Searchlight Capital Partners LP and HSCM Bermuda.

It said the strategic infusion of capital will be used to strengthen Gracie Point’s balance sheet and fund growth. This is Gracie Point’s fifth successful capital raise since inception.

A company spokesman said: “The partnership with Searchlight Capital and HSCM Bermuda brings not only capital, but deep industry expertise and operational support, strengthening Gracie Point’s market position as it scales.”

Vikas Singhal, partner at HSCM Bermuda, said: “The life insurance industry is undergoing a dramatic shift in complexion. We believe Gracie Point can be a partner to the industry as the industry rethinks its core offerings to their end consumers.”

Gracie Point has offices in New York, Toronto and Hong Kong.

Searchlight is a global private investment firm with more than $16 billion in assets under management and offices in New York, London, Miami and Toronto.

HSCM Bermuda is a global alternative asset manager specialising in investments in the insurance and reinsurance, and transportation sectors.

Launched in 2016, HSCM is focused on core economic sectors that it expects to outgrow global gross domestic product, offer low correlations with broader markets, and are experiencing a shift from balance sheet to market financing.

It has offices in Bermuda, Connecticut and New York.