Investment manager Hudson Structured Capital Management has closed HS Mohawk Fund I LP, a life-insurance focused continuation fund. The fund closed with $175mn of commitments, led by StepStone Group.
In connection with the closing, HSCM has also 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 fund and continue to be a trusted capital partner to our portfolio companies and drive value creation for our investors,” said 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.”
“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,” added Geoff Dolan, Partner at StepStone.
The fund was established to acquire interests in five asset-intensive life insurance investments held by HSCM Bermuda Fund Ltd, HSCM’s multi-sector re/insurance fund.