HSCM enters financing deal with Eldridge

Hudson Structured Capital Management (HSCM), the parent company of HSCM Bermuda, has arranged a financing transaction with Eldridge, a US based investment firm that invests in insurance as well as credit, technology, real estate and other sectors.

This transaction will see HSCM refinance its startup obligations via a private debt issuance with warrants, to accelerate Eldridge’s growth.

Barclays Capital acted as lead financial advisor to HSCM, which was also advised by Tiger Risk Capital Markets & Advisory.

Michael Millette, managing partner of HSCM, said: “We look forward to continuing our mission to provide institutional investors with lightly correlated, sector-based portfolios that realise value through thought leadership across subsectors and instruments.”

“HSCM’s re/insurance, transportation and insurtech platforms have achieved remarkable growth,” said Tony Minella, co-founder and president of Eldridge. “We look forward to supporting HSCM as a strategic partner as they continue to scale and diversify.”

HSCM was founded in 2016 by former Millette, the former structured finance head at Goldman Sachs, and David Andrews, a former PIMCO executive.