Hudson Structured agrees financing deal with Eldridge

Hudson Structured Capital Management (HSCM) has arranged a financing deal with Eldridge that will allow the re/insurance focused alternative investment asset manager to refinance its start-up obligations and accelerate further growth.

The transaction consists of a private debt issuance with warrants that will allow Eldridge to participate in HSCM’s growth.

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

HSCM was founded in 2016 by former Goldman Sachs structured finance head Michael Millette and former PIMCO executive David Andrews. As of January 1, 2021, the company had more than $3 billion in assets under management and committed capital.

Greenwich, Connecticut-headquartered Eldridge invests in businesses across the insurance, credit and technology sectors, among others. It also has offices in Beverly Hills, New York, and London.

Millette said: “We are delighted to be partnering with Eldridge. With the support of Todd, Tony and the entire Eldridge organisation, 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.”

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

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