Lockton launches capital markets unit

Broker Lockton has launched a new investment banking and capital markets operation in New York and has appointed Vishal Jhaveri as its CEO.

Lockton Capital Markets will facilitate investment banking and capital markets transactions focused upon the convergence between insurance and alternative capital. It will focus on niche, high impact solutions for insurers and financial sponsors. All securities transactions will be conducted through Gnu Securities, member FINRA, SIPC.

The broker is launching the business in partnership with Antarctica Capital, a New York-based private equity firm.

Jhaveri has over 15 years of experience executing insurance transactions. He 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. “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.”

Jhaveri said: “I look forward to the opportunity to recruit and grow this team, build the business and facilitate the confluence of alternative capital and insurance. 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.”

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