Hudson acquires Northern Shipping Fund Management

Hudson Structured Capital Management (HSCM), a manager of reinsurance, Insurtech and transport assets, has expanded its transportation alternative investment platform by acquiring the key business assets of Northern Shipping Fund Management (NSF), an alternative capital provider to the shipping industry.

The combined transport platform will have assets under management and capital commitments of more than $1 billion, bringing HSCM’s firm-level assets under management and capital commitments above $4 billion. HSCM says the platform will offer greater asset scale, investor reach, operational efficiencies, and product offerings.

NSF, led by Sean Durkin and Sybren Hoekstra, employs an asset-based approach to maritime lending.

Durkin said: “We view this as the next evolution of our business; one that expands our capabilities, better positions our existing team, and will help us deliver for our collective investors.”

David Andrews, HSCM co-founder and managing partner for transport, said NSF had spent nearly three decades building a “premiere maritime franchise with an industry-leading track record”. He added: “Maintaining that focus is our highest priority going forward. Combined, our platform has expanded investment capabilities across capital structures and unmatched technical expertise providing enhanced market positioning within maritime and potentially across broader transportation markets for years to come.”

The HSCM transport and maritime teams will continue to operate out of HSCM’s Stamford, Connecticut offices.