Third Point LLC has announced the first close of its inaugural structured private credit fund for insurance companies, securing $400 million for the Third Point Insurance Solutions Fund I (ISF). The fund marks a strategic expansion into rated, insurance-focused private credit, with a core emphasis on U.S. middle market opportunities. 

The launch of ISF adds to Third Point’s growing private credit platform, which is expected to roll out additional products later in 2025. The firm’s credit capabilities were significantly enhanced earlier this year through the acquisition of AS Birch Grove, an $8 billion credit asset manager led by CEO and CIO Jonathan Berger, whose strategies include middle market capital solutions tailored to institutional investors. 

Third Point’s Private Credit strategy is led by Christopher Taylor, former CEO of Madison Capital Funding, where he oversaw a doubling of assets under management to over $15 billion, including more than $10 billion managed on behalf of New York Life and other insurance companies. 

“Private credit is an essential piece of our expanding credit platform, which offers investors an increasingly broad set of solutions drawing on our three decades of investing in credit markets,” said Daniel S. Loeb, Founder and CEO of Third Point LLC. “The ISF intends to provide insurance companies with broad, differentiated private credit opportunities that offer consistent income and strong absolute returns.” 

With approximately $21 billion in total assets under management, Third Point now offers a full suite of credit strategies—ranging from corporate and asset-backed credit to CLOs and private credit—alongside its legacy event-driven equity and opportunistic investing strategies. Additional private credit offerings are expected to be launched by year-end.