Kuvare Insurance Services (KIS) has launched its third-party asset management business, as part of the company’s expansion across private asset-backed and structured credit, private corporates, and commercial mortgage debt to non-affiliated insurance clients.
Over the past two years KIS has built its team of insurance industry professionals and asset class specialists to drive portfolio performance across Kuvare’s operating companies.
Alongside the launch, Roelke has appointed three key members to his executive leadership team.
Ana Morales has been named as Managing Director, Head of Business Development and Product Strategy, where she will be responsible for leading client relationships and advancing the growth of the KIS third-party asset management platform.
Morales brings 17 years of industry experience, and joins from Goldman Sachs where she was a Managing Director, Senior Relationship Manager in the firm’s insurance asset management business.
Prior to that, she built and led BlackRock’s exchange-traded funds insurance distribution team.
Joseph Orofino joins as Managing Director, Head of Investment Risk Management, holding 20 years of industry experience, most recently at Further Global Capital Management where he was part of the executive team for two operating companies.
Prior to that, he led Aflac’s investment initiatives in non-core fixed income, alternatives, and public equities as well as holding senior investment and risk management roles at Swiss Re.
Thomas Pasuit joins as Chief Legal Officer, having spent over 16 years at MetLife, most recently as Head of MetLife Investment Management’s Fixed Income and Alternatives legal team.
He began his legal career at Connell Foley, LLP, where he specialised in bankruptcy and financial restructuring.
Brian Roelke, President and Chief Investment Officer, commented: “Insurance investors continue to be motivated to search for yield against a backdrop that remains challenging.
“KIS has constructed bespoke private credit solutions in-house to augment Kuvare’s core fixed income assets, originating approximately $5 billion in primarily investment grade private credit at attractive book yields vs. publicly-traded comparables.”
Dhiren Jhaveri, Kuvare founder and Chief Executive Officer, added: “The launch of the third-party asset management platform and these new appointments reflect our commitment to attracting an extraordinary team to support outstanding client service and portfolio performance. Our talent bench positions us to address the unique investment objectives of insurers and capitalize on market opportunities to drive portfolio alpha.”
