Key Takeaways
- • Third Point LLC secured $400 million of investible capital at the first close of the Third Point Insurance Solutions Fund I (ISF I), the firm's first dedicated and rated structured private credit fund for insurance companies.
- • The fund targets US middle-market private credit opportunities, seeking capital-efficient returns for insurance clients, according to Third Point's announcement.
- • Christopher Taylor, who previously doubled AUM to over $15 billion as CEO of Madison Capital Funding (2017-2022), leads the Private Credit strategy and the new fund.
- • The launch extends Third Point's growing private credit platform, which expects further product launches later in 2025 and follows its 2025 acquisition of AS Birch Grove, an $8 billion credit manager.
Summary
Alternative asset manager Third Point LLC, which manages approximately $21 billion in assets, announced that it has secured $400 million of investible capital for the first close of the Third Point Insurance Solutions Fund I (the "Fund"). The Fund is the firm's first dedicated and rated structured private credit vehicle for insurance companies. According to the company, it provides access to a broad range of private credit opportunities across the US middle market and seeks to generate attractive, capital-efficient returns on behalf of insurance clients.
The strategy is led by Christopher Taylor, who previously served as CEO of Madison Capital Funding from 2017 to 2022. During that tenure, the company doubled its AUM to over $15 billion, including more than $10 billion managed on behalf of New York Life and other insurance companies. Taylor said the fund gives the insurance market access to a diversified private credit product built on Third Point's credit experience, and thanked the anchor investors for their support.
Founder and CEO Daniel S. Loeb described the launch as offering a new type of investor access to Third Point's private credit strategy. He said the Insurance Solutions Fund intends to provide insurance companies with broad, differentiated private credit opportunities offering consistent income and strong absolute returns, drawing on the firm's three decades of investing in credit markets.
The fund adds to a credit platform that has expanded through the 2025 acquisition of AS Birch Grove, an $8 billion credit asset manager led by CEO and CIO Jonathan Berger, whose strategies include an established middle-market private credit fund. Third Point expects to launch further private credit products later in 2025. The firm's broader credit platform spans corporate, asset-backed, private and CLO strategies, and in 2024 it launched Malibu Life Re, a licensed life and annuity reinsurer based in the Cayman Islands.
The strategy is led by Christopher Taylor, who previously served as CEO of Madison Capital Funding from 2017 to 2022. During that tenure, the company doubled its AUM to over $15 billion, including more than $10 billion managed on behalf of New York Life and other insurance companies. Taylor said the fund gives the insurance market access to a diversified private credit product built on Third Point's credit experience, and thanked the anchor investors for their support.
Founder and CEO Daniel S. Loeb described the launch as offering a new type of investor access to Third Point's private credit strategy. He said the Insurance Solutions Fund intends to provide insurance companies with broad, differentiated private credit opportunities offering consistent income and strong absolute returns, drawing on the firm's three decades of investing in credit markets.
The fund adds to a credit platform that has expanded through the 2025 acquisition of AS Birch Grove, an $8 billion credit asset manager led by CEO and CIO Jonathan Berger, whose strategies include an established middle-market private credit fund. Third Point expects to launch further private credit products later in 2025. The firm's broader credit platform spans corporate, asset-backed, private and CLO strategies, and in 2024 it launched Malibu Life Re, a licensed life and annuity reinsurer based in the Cayman Islands.
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