Gracie Level Holdings, LLC, a supplier of life insurance coverage premium finance, has closed a latest fairness capital increase led by funds suggested by Hudson Structured Capital Administration Ltd. (HCSM) and Searchlight Capital Companions, L.P., offering the agency with “deep business experience and operational help.”
Gracie Level serves purchasers all through North America and Asia by way of its places of work in New York, Toronto, and Hong Kong.That is the corporate’s fifth capital increase, and the proceeds from this newest fairness increase will probably be used to strengthen its stability sheet and fund development.
The increase was led by HSCM, the reinsurance, insurtech, insurance-linked securities (ILS) and transportation targeted funding supervisor, and world non-public funding agency, Searchlight.
“We’re delighted to welcome Searchlight, a number one non-public fairness funding agency, into our group of buyers. Our present companions stepping as much as fund our development is a testomony to the power and scalability of our platform,” mentioned Harish Raghavan, Chief Govt Officer, Gracie Level.
By partnering with Searchlight and HSCM, the corporate stands to profit from intensive business data and operational help, in addition to the extra capital, which Gracie Level expects to strengthen its market place because it scales.
“The life insurance coverage business is present process a dramatic shift in complexion. We imagine Gracie Level is usually a associate to the business because the business re-thinks its core choices to their finish shoppers,” mentioned Vikas Singhal, Companion at HSCM Bermuda.
Recall that again in 2021, we reported on HSCM’s funding in Gracie Level, with the previous noting on the time that it was a long-term investor within the life insurance coverage sector specialty lender and premium finance agency.
Andrew Frey, Companion at Searchlight, added, “We’re excited to associate with Gracie Level. Life insurance coverage is maybe the final main asset class the place shoppers don’t have a available financing market. We imagine Gracie Level can unlock that functionality and be the primary mover into a really vital, and deep asset-backed market globally.”
Goldman Sachs served as unique monetary advisor, and Winston Strawn LLP served as authorized advisor to Gracie Level.
Citigroup World Markets Inc. served as monetary advisor, Oliver Wyman LLC served as business advisor, and Wachtell, Lipton, Rosen & Katz served as authorized advisor to Searchlight.
