Global alternative investment firm Beach Point Capital Management LP has launched a strategic insurance solutions program focused on expanding partnerships with insurance companies and delivering tailored investment solutions on its platform.
The move reflects Beach Point’s ongoing commitment to serving institutional investors through expertise and dedicated client solutions.
The company believes that private markets play an increasingly important role in insurance companies’ investment portfolios and sees opportunities to support their evolving investment needs through Beach Point’s broad credit platform.
Beach Point has appointed Louis DiFranco as global head of insurance solutions to lead the initiative.
DiFranco is based in Beach Point’s New York office and reports to Eric Storch, global head of client engagement and business development.
In his new role, he will focus on building partnerships with insurance companies within the firm’s investment capabilities while addressing the unique needs of insurance clients.
DiFranco has more than 30 years of experience working with institutional investors and insurance companies in the asset management, banking and financial services sectors.
Prior to joining Beach Point, he served as head of insurance for the Americas at PGIM, where he led the growth of the company’s investment management business with third-party insurance companies and developed tailored investment solutions. Prior to that, he led the insurance asset management business at AllianceBernstein and Western Asset Management.
“Beach Point has identified the insurance customer segment as a strategic growth priority for the company, recognizing the growth in investment assets in the insurance industry and the need for higher yield investment opportunities across the credit spectrum,” said Josh Baumgarten, President and Chief Investment Officer of Beach Point.
Storch commented: “Louis is a proven leader with a deep understanding of the insurance market and a nuanced understanding of the evolving needs of insurance investors.
“His industry expertise and client-focused approach will enhance our ability to serve insurance companies and expand our presence in this important market segment.”
DiFranco added: “Beach Point has built a strong reputation as a one-stop credit solutions provider, supported by a differentiated origination platform that benefits from the company’s scale, fundamental credit analysis and emphasis on structure that will resonate with insurance companies. The company’s broad capabilities across asset classes, differentiated middle market approach, customer-first culture and commitment to partnerships make Beach Point very well-positioned to serve insurance investors. I look forward to helping these investors through Beach Point achieve its unique investment objectives.”
