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Gracie Point Issues $75 Million in Preferred Equity to Fund Continued Global Growth and Acquisitions

Gracie Point Holdings, LLC, a leading global provider of life insurance premium finance, announced it closed a $75 million issuance of preferred equity. Lead investors were affiliated with Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda), which has been a long-term investor in Gracie Point, and affiliates of Kuvare Holdings.

Gracie Point has seen a dramatic increase in demand for its products in its markets in North America and Asia. During 2020, Gracie Point’s portfolio of loans more than doubled and the Company is on-track to again more than double its portfolio in 2021. Proceeds from the preferred equity issue will be used to fund continued growth and expansion as well as strategic acquisitions.

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Harish Raghavan, CEO of Gracie Point said, “Our growth is accelerating globally. HSCM Bermuda and Kuvare will be excellent partners, providing both capital and insight. This capital raise allows us to fund investments in our organization and pursue strategic acquisitions.”

Following this transaction, Michael Millette, Managing Partner at HSCM Bermuda, will become a Board Member at Gracie Point. Also, Dhiren Jhaveri, CEO of Kuvare, will join the Gracie Point Board.

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Michael Millette commented, “We have had a long-standing relationship with Gracie Point and are pleased to support the Company as it achieves its global objectives; the potential is significant.”

Dhiren Jhaveri said, “we are excited to become a strategic partner to Gracie Point, and look forward to collaborating with Gracie on funding and distribution capabilities to accelerate its long term growth.”

UBS Investment Bank acted as exclusive financial advisor and placement agent for Gracie Point. Cem Altuntas, Executive Director of UBS Investment Bank, commented, “Gracie Point has built a differentiated global platform with an impressive growth trajectory. The UBS team is proud to work with Gracie Point on this transaction.”

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[To share your insights with us, please write to sghosh@martechseries.com]

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