Capital Constellation Forms Partnership with Gallatin Point

- Capital Constellation specializes in providing growth capital to the next generation of private alternative asset management firms, acquiring minority ownership stakes in these businesses. - The platform is a collaborative network of major institutional investors, including the Alaska Permanent Fund Corporation, the New York State Common Retirement Fund, and the Public Institution for Social Security of Kuwait (PIFSS). - Gallatin Point Capital was founded in 2017 by Matthew Botein, former Co-Head of BlackRock Alternative Investors, and Lee Sachs, who served as Head of the Financial Crisis Response team under President Obama. - Based in Greenwich, Connecticut, Gallatin Point manages approximately $6 billion in assets and focuses on structured investments in financial institutions, services, and related assets. - The investment in Gallatin comes from Capital Constellation's fifth fund, "Constellation Generation V," which has a target of $1.5 billion. - Wafra Inc., which manages Capital Constellation, is a global alternative investment manager with approximately $28 billion of assets under management and is owned by the Kuwaiti public pension fund, PIFSS. - The partnership will provide Gallatin with long-term strategic capital for its investment vehicles and to support its balance sheet, while the firm continues to operate independently. - Recent investments by Gallatin Point include providing capital for insurance companies such as Hometap and Tower Hill Insurance Exchange.