Gracie Point Closes $50 Million Capital Raise
Gracie Point Holdings, LLC announced that it closed a $50 million capital raise, led by Hudson Structured Capital Management Ltd. [conducting its re/insurance business as HSCM Bermuda].
“The strategic infusion of capital will be used to fund continued growth in the U.S. and Asian markets, the launch of Gracie Point’s Canadian operation, and to further enhance its global funding capabilities. This is Gracie Point’s third successful capital raise,” the company said.
Harish Raghavan, Chairman of Gracie Point said, “Gracie Point is uniquely qualified to provide flexible and innovative financing solutions in the global premium finance market. This latest round of capital allows us to continue our rapid growth and expand our platform in the United States, Canada and Asia.”
Michael Millette, Managing Partner of HSCM Bermuda, commented, “The opportunity to build a global premium finance company in the life insurance space that is connected to the capital markets is one that we think will fundamentally shift how life insurance is bought and sold, and we have enjoyed our many year partnership with Gracie Point who we view as the market leader in the space. We are excited about this next phase of growth for the company.”
