Lockton launches capital markets business

NEW YORK, Sept. 4, 2018 /PRNewswire/ -- Lockton, the world's largest privately held, independent insurance broker, today announced the launch of Lockton Capital Markets. The New York-based operation will facilitate investment banking and capital markets transactions focused upon the convergence between insurance and alternative capital. Lockton is launching the business in partnership with Antarctica Capital, a New York-based private equity firm.

Vishal Jhaveri will be CEO of Lockton Capital Markets. Jhaveri is the former head of insurance and pension solutions for the Americas at Citi. He also has led alternative capital and insurance solutions teams at Houlihan Lokey, Kohlberg and JP Morgan.

Michael Calabrese, the founder and current chairman of Lockton's Northeast operations, will also serve as chairman of Lockton Capital Markets.

"We are excited to expand our Lockton platform to serve the expanding market for alternative capital in the insurance industry," said David Lockton, Chairman of Lockton, Inc. "We have a strong leader in Vishal Jhaveri to build and guide the team and provide innovative solutions for insurers, corporations, hedge funds and other clients. We look forward to partnering with the innovative structured finance team at Antarctica Capital."

Andrew Bonita, Managing Director of Antarctica Capital, added, "We believe Lockton Capital Markets will deliver unique access and specialized expertise to clients as the convergence of alternative capital and insurance accelerates. We are pleased to support the growth of this exciting new endeavor."

"I look forward to the opportunity to recruit and grow this team, build the business and facilitate the confluence of alternative capital and insurance," said Jhaveri. "There is a market need for solutions that deliver capital, yield, liability optimization and liquidity.  Lockton Capital Markets is well positioned to offer these solutions." 

Lockton Capital Markets will focus on niche, high impact solutions for insurers and financial sponsors. All securities transactions will be conducted through Gnu Securities LLC, member FINRA, SIPC.

Lockton Capital Markets is based at 1185 Avenue of the Americas in New York. The phone number is (646) 968-6000.

About Vishal Jhaveri

Jhaveri is a seasoned insurance banker with over 15 years of experience executing insurance transactions. Prior to joining Lockton, Jhaveri was head of insurance and pension solutions at Citigroup. Before Citigroup, he headed insurance businesses at Houlihan Lokey, Kohlberg, J.P. Morgan and Credit Suisse. Jhaveri received his MBA from Columbia Business School. His transaction experience includes setup of hedge fund re platforms, sales of insurance run-off blocks, sidecar formations, private equity backed insurance M&A, pension risk transfer and other structured finance transactions.

About Antarctica Capital

Antarctica Capital is an international private equity firm headquartered in New York with operations in the United States, United Kingdom, and India. Antarctica invests in real assets and insurance markets and operating companies in those sectors. Antarctica's SIGA^® (Secure Income and Growth Assets) and SARO^® (Structured Alpha Return Optimization) investment programs are designed to address the growing needs of long-dated liability holders.

About Lockton

Lockton is a global professional services firm with 7,000 Associates who advise clients on protecting their people, property and reputations. Lockton has grown rapidly by helping clients achieve their objectives. For nine consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance."

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SOURCE Lockton