Sector developments and company hires

Kuvare Insurance Services (KIS) has launched a third-party asset management business. Over the past two years under the leadership of president and cio Brian Roelke, KIS has built a seasoned team of insurance industry professionals and asset class specialists to drive portfolio performance across Kuvare’s operating companies. The firm now plans to extend its experience across private asset-backed and structured credit, private corporates and commercial mortgage debt to non-affiliated insurance clients.

In conjunction with the launch, Roelke has recently added three key members to his executive leadership team. Ana Morales joins KIS as md, head of business development and product strategy. She joins from Goldman Sachs, where she was an md, senior relationship manager in the firm’s insurance asset management business.

Joseph Orofino joins as md, head of investment risk management. He was most recently at Further Global Capital Management, where he was a member of the executive team for two operating companies.

Finally, 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.

In other news...

EMEA

Glennmont Partners has invested in a €100m bond programme dedicated to financing energy efficiency improvements on residential buildings in Italy through its Green Credit Strategy REBS1 (Renewable Energy Backed Securities). The energy efficiency works will benefit from the ‘Superbonus’ tax credit programme implemented by the Italian government in 2020 to support energy efficiency improvements of Italian homes.

In October 2021, Glennmont announced its third green ABS issuance under its Green Credit Strategy REBS1 - an ABS backed by a project finance loan to a Spanish solar photovoltaic plant with a total installed capacity of 20MW. To date, the firm has made credit investments across seven European countries and over 1,000 renewable energy assets, representing a total installed capacity in excess of 8GW.