Man Group, a technology-empowered active investment management firm, has launched Capital Asset Solutions (CAS) within Man Solutions Limited, a new initiative designed to provide insurers with bespoke and flexible re/insurance solutions with a focus on liabilities and asset management.
Predominantly, CAS will focus on the global retirement services and savings market distributed via insurance, pension fund, and wholesale avenues.
The new initiative brings together the breadth of Man Group’s investment capabilities across global credit markets with expertise in regulation, product structuring, and liquidity management to develop solutions for clients operating in complex, regulated markets.
Additionally, the CAS will both develop and manage an institutional investor focused multi-asset credit strategy that dynamically allocates to liquid and private markets across its parent.
By strategically partnering with insurance carriers, CAS will look to help them improve their competitiveness and resilience, and grow.
The company says that this includes providing firms with “flexible capital, either through direct investment, reinsurance or other forms of balance sheet enhancing transactions, as well as leveraging Man Group’s sophisticated asset management capabilities.”
All of these solutions will be provided within Man Group’s existing prudential regulatory framework.
The CAS initiative is led by Dan Robinson and Stephan Muecke, who are both based in London.
Robinson joins as Managing Partner of CAS from CIFC Asset Management, where he most recently served as the CIO of their European operation. He brings over two decades of experience in managing credit strategies across hedge funds and private equity. This includes three years at Apollo Global Management, where he was Head of Liquid Credit (Europe), and 12 years at Oaktree Capital.
Muecke also joins as Managing Partner of CAS. He joins from his most recent role at reinsurance giant Swiss Re, bringing more than 15 years of experience in private equity, M&A, and liability solutions in the regulatory complex insurance space. Before Swiss Re, Muecke worked at both Oaktree Capital and Merrill Lynch.
Robinson and Muecke will be joined by a team of industry professionals experienced in providing asset management and capital solutions in regulated markets.
Chief Executive Officer (CEO) of Man Group, Luke Ellis, said: “Substantial structural change in both global asset management and global insurance markets over the past decade has starved insurers of yield and created a more complex regulatory environment.
“By leveraging Dan and Stephan’s significant expertise, and combining it with our established alternative investment platform, we think we are well positioned to provide innovative asset, portfolio and capital solutions for insurers and in related product areas.
“The markets we are targeting are vast, so there is scope to create a scalable insurance asset management business and we are looking forward to building out our capabilities in this area.”
Robinson noted: “We believe there is a huge opportunity to match the needs of investors in complex regulated markets, like insurance, with investment products optimised for their return, liquidity and regulatory needs.
“The sophistication and breadth of Man Group, especially in credit, technology and bespoke solutions, in conjunction with a commitment to provide capital, represent a very compelling offering across our target markets in our view. This requires an integrated approach and we are very excited to add our specific expertise in delivering these solutions to clients.”
Muecke added: “In our opinion, Man Group is ideally positioned to establish itself as a strategic partner for insurance companies globally by integrating insurance and asset management capabilities. Fundamental to its new insurance strategy will be the ability to deploy flexible capital throughout the cycle and – in combination with our capital efficient asset management solutions – enable our partners to navigate the increasingly competitive insurance market.
“We are also delighted to be providing clients with access to attractive risk pools through investment solutions at the intersection of the insurance industry and capital markets.”
