Investcorp launches insurance arm
Provider and manager of alternative investment products Investcorp has announced that it has launched the Investcorp Insurance Solutions platform, the firm’s newly formed business that will focus on providing investment management services to meet the unique investment needs of insurers.
Investcorp has hired Todd Fonner as chief investment officer, who has over 28 years of experience in the insurance and asset management industries, having held a variety of roles across functions including investments, treasury, enterprise risk, underwriting and strategy. Most recently, he served as senior managing director, CIO North America, Blackstone Insurance Solutions until 2020. There, he contributed significantly to the build out and enhancement of the Blackstone Insurance Solutions platform formed in late 2017. He also has held CIO, treasurer and chief risk officer roles at RenaissanceRe Holdings, where he spent nearly 15 years of his career.
“The formation of Investcorp Insurance Solutions is a milestone for us and aligns with our strategy of continuing to expand our suite of offerings to meet the evolving needs of our clients,” said Mohammed Alardhi, executive chairman of Investcorp. “Our deep experience and knowledge across a broad range of alternative asset classes and strategies makes us an ideal partner to insurers who are increasingly allocating to private investments as an important source of alpha in today’s environment.”
“I am excited to welcome Todd to Investcorp and believe the deep experience he brings within the insurance and asset management industries will be critical to our success in building out this new business,” said Rishi Kapoor, co-chief Executive Officer of Investcorp. “This is yet another testament to Investcorp’s commitment to uncovering opportunities with secular tailwinds and putting the right teams behind them to build and grow the platform as we continue to find ways to better serve our clients.”
“The insurance industry continues to seek exposure to alternative investment strategies and Investcorp is well-positioned through its strong track record of investing across asset classes to bring innovative solutions to the market,” said Todd Fonner, CIO of Investcorp Insurance Solutions. “I am looking forward to joining the team and leading this new strategic initiative for the firm.”
