Axonic Insurance secures $210m preferred equity investment

Core Insights - Axonic Insurance has raised $210 million in preferred equity, led by LuminArx Capital Management with participation from Deutsche Bank [1][2] - The funding will support Axonic Insurance's expansion in retail and institutional distribution, as well as enhance its technology and product offerings [2] Company Overview - Axonic Insurance is a fully owned subsidiary of Axonic Capital, which manages $7 billion in assets and focuses on structured credit and real estate debt and equity [2] - The company specializes in creating, issuing, distributing, and administering annuities and related products for individual and institutional clients globally [1] Funding Details - Deutsche Bank Securities acted as the exclusive structuring and placement agent for the funding transaction [3] - The capital raising initiative was led by Deutsche Bank's FIG Structuring & Solutions team, which specializes in customized capital solutions [3] Leadership and Strategic Vision - CEO Michael Gordon expressed appreciation for the support from LuminArx and Deutsche Bank, highlighting their alignment with the company's growth strategy [4] - LuminArx partner Sanjeev Mordani noted excitement in supporting Axonic Insurance's growth momentum [4] - Deutsche Bank's Philippe Kremer acknowledged Axonic Insurance's significant expansion in the fixed annuities space and its innovative operations [4] Product Development - Earlier in the year, Axonic Insurance selected Hexure's FireLight e-application platform to launch its Waypoint Multi-Year Guaranteed Annuity product [5]