SageSure Makes Strategic Investment in Pillar Capital Management

Transaction

2 minutes

09 October 2026

Company and Transaction Overview

SageSure has made a strategic investment in Pillar Capital Management (“Pillar”), a leading insurance-linked securities fund manager with over $4 billion of institutional assets under management

  • Adds Pillar's leading reinsurance risk underwriting capabilities and deep institutional investor relationships to the SageSure platform
  • Expands SageSure's reach across the property catastrophe value chain by connecting underwriting expertise with broader capital sources
  • SageSure’s existing debt facility with long-standing capital partner Ares Management was expanded to support the investment

Pillar will continue to operate as an independent franchise and will retain its current Bermuda-based team and investment strategy, augmented by SageSure’s sophisticated risk-level insights, analytics, and technology capabilities

  • Pillar will continue to be led by longtime CEO and CIO Stephen Velotti and COO Tara Railton
  • Pillar’s management team will continue to hold a substantial ownership stake in the business

SageSure is one of the largest residential property managing general underwriters in the US specializing in catastrophe-exposed markets

  • SageSure provides highly differentiated residential and commercial solutions, innovative service and claims management, and market-leading buying experiences
  • The company operates in 16 states, protects nearly 1 million policyholders, and manages more than $3 billion of inforce premium

Pillar is a Bermuda-based independent asset manager specializing in insurance-linked securities, with a singular focus on the global property catastrophe reinsurance market

  • Founded in 2008, Pillar operates at the intersection of asset management and reinsurance, providing institutional investors with access to an asset class that is uncorrelated to traditional markets, through a disciplined, research-driven approach to underwriting catastrophe risk
  • As a multi-strategy platform, Pillar allocates capital dynamically across reinsurance, retrocession, catastrophe bonds, and industry loss warranties
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Howden Capital Markets & Advisory Role

HCMA acted as exclusive financial advisor to SageSure; key roles and responsibilities included:

  • Introducing and intermediating initial discussions between the two parties and assisting in developing the proposed transaction structure
  • Competitive benchmarking and comparative analysis to assess Pillar’s relative performance and strategic differentiation
  • Detailed review of historical and forecast fund performance and manager financials
  • Financial modeling and valuation analysis under a variety of scenarios
  • Integral role in designing and negotiating the key commercial terms of the transaction
  • Served as a trusted advisor throughout the process, providing objective guidance and execution leadership

This transaction further solidifies HCMA as a market leader in insurance services M&A and capital markets transactions