Gracie Point, a holding company that builds specialty finance companies, has secured a $250 million warehouse facility from Goldman Sachs Bank USA.
The facility enhances Gracie Point’s funding flexibility and further strengthens its capital markets infrastructure to address growing global demand for life insurance premium financing solutions. The warehouse line will support continued growth and expansion of Gracie Point’s life insurance premium financing platform, GP Affluent Markets.
“This warehouse facility is an important strategic milestone for Gracie Point that both diversifies and increases our capacity to deliver innovative, life insurance premium finance loans at scale, and we appreciate Goldman Sachs’ support,” Harsh Varma, head of capital markets at Gracie Point, said. “This follows our successful $272 million life insurance premium loan securitization last August, our ninth publicly rated, broadly syndicated securitization. Together, these transactions underscore our ability to access diverse, cost-effective capital to support growth.”
Howard Levkowitz, recently appointed non-executive chairman of Gracie Point, said, “This warehouse facility strengthens Gracie Point’s capital markets infrastructure and directly supports the continued growth of our life insurance platform, GP Affluent Markets. Supporting the growth of platforms is central to Gracie Point’s strategy, and this transaction is a clear example of how we are putting that approach to work as we scale GP Affluent Markets to meet growing demand for bespoke premium financing solutions.”
Vikas Singhal, partner at Hudson Structured Capital Management, affiliates of which are lead investors in Gracie Point, added, “We have been long-standing supporters of Gracie Point and are pleased to see the company achieve this important milestone. We value the partnership with Goldman Sachs and view this transaction as a significant step in the continued development of life insurance premium finance as a major institutional asset class.”
Andrew Frey, partner at Searchlight Capital, said, “As long-time supporters and investors in Gracie Point, we are excited to see the company build on its financing flexibility with this new warehouse facility to further accelerate the global expansion of its industry-leading life insurance premium finance platform.”
Faisal Kassam, head of platform investing and asset-based finance at Kuvare Strategic Investments and board member of Gracie Point Holdings, said, “This transaction is a significant milestone in the evolution of Gracie Point’s funding platform and positions the company well for continued growth.”
