Gracie Point Holdings, LLC (“Gracie Point”), a leading global provider of life insurance premium finance, announced today that it has closed on an equity capital raise led by funds advised by Searchlight Capital Partners, L.P. (“Searchlight”) and Hudson Structured Capital Management Ltd. (conducting its re/insurance business as HSCM Bermuda).
The strategic infusion of capital will be used to strengthen Gracie Point’s balance sheet and fund growth. This is Gracie Point’s fifth successful capital raise since inception.
The partnership with Searchlight Capital and HSCM Bermuda brings not only capital but deep industry expertise and operational support, strengthening Gracie Point’s market position as it scales.
Harish Raghavan, CEO of Gracie Point, said, “We are delighted to welcome Searchlight, a leading private equity investment firm, into our group of investors. Our existing partners stepping up to fund our growth is a testament to the strength and scalability of our platform.”
Andrew Frey, Partner at Searchlight Capital, commented, “We are excited to partner with Gracie Point. Life insurance is perhaps the last major asset class where consumers don’t have a readily available financing market. We believe Gracie Point can unlock that capability and be the first mover into a very significant, and deep asset-backed market globally.”
Vikas Singhal, Partner at HSCM Bermuda, commented, “The life insurance industry is undergoing a dramatic shift in complexion. We believe Gracie Point can be a partner to the industry as the industry re-thinks its core offerings to their end consumers.”
Goldman Sachs & Co. LLC served as exclusive financial advisor and Winston Strawn LLP served as legal advisor to Gracie Point. Citigroup Global Markets Inc. served as financial advisor, Oliver Wyman LLC served as commercial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to Searchlight.
