Third Point Launches $400M Private Credit Fund Targeting Insurance Investors

Third Point LLC has secured $400 million for the first close of its insurance-dedicated private credit fund, marking a strategic expansion into structured debt solutions for institutional investors. The $21 billion alternative asset manager aims to capitalize on middle-market lending opportunities while leveraging its recent acquisition of credit specialist AS Birch Grove.

Christopher Taylor, who previously doubled Madison Capital's AUM to $15 billion, leads the private credit strategy. The fund's launch follows Third Point's broader push into credit markets, including Jonathan Berger's $8 billion Birch Grove platform acquisition earlier this year.

"This vehicle provides insurers access to our credit expertise through capital-efficient structures," said CEO Daniel Loeb, signaling further product launches planned for 2025. The MOVE reflects institutional investors' growing appetite for private debt solutions amid volatile public markets.