Third Point secures $400m of investible capital for Insurance Solutions Fund

Third Point LLC has secured $400 million of investible capital for the first close of the Third Point Insurance Solutions Fund I, its first dedicated and rated structured private credit fund for insurance companies.

According to Third Point, the Fund adds to its growing private credit platform, which expects to launch further products later in 2025.

Third Point’s Private Credit strategy leader, Christopher Taylor, commented, “We are excited about this milestone as we look to provide the insurance market with access to a diversified private credit product that capitalizes on Third Point’s deep credit experience.

“This is an important step in our long-term vision of building a diversified and scalable fund complex to support our private credit strategy. We are grateful to our anchor investors for their partnership and support of our business.”

Third Point Founder and CEO Daniel S. Loeb commented, “The launch of our first dedicated insurance solutions vehicle offers a new type of investor access to Third Point’s private credit strategy.

“Private credit is an essential piece of our expanding credit platform, which offers investors an increasingly broad set of solutions drawing on our three decades of investing in credit markets.

“The ISF intends to provide insurance companies with broad, differentiated private credit opportunities that offer consistent income and strong absolute returns.”

In related news, Third Point has announced progress on its proposed acquisition of Malibu Life Reinsurance SPC, a life and annuity reinsurance platform, along with updated and improved terms for a Redemption Offer aimed at shareholders seeking to exit their investment.

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