Haynes Boone served as legal counsel to Hudson Structured Capital Management Ltd. in connection with the formation and closing of its Hudson Northern Shipping Fund V LP (HSNF V), which secured investor commitments totaling $719 million.

HSNF V focuses on investments in senior loans and capital leases secured by vessels and attracted commitments from a diverse base of new and returning investors, including public pension plans and insurance companies.

As part of the transaction, Hudson Structured Capital Management introduced a rated note feeder vehicle designed to expand investor access to the fund. The notes issued through the vehicle received an investment-grade rating from an independent third-party agency at the time of closing. 

Haynes Boone Partner Greg Cioffi led the team assisting on the formation and structure of the rated note feeder vehicle. Cioffi was assisted by Partners Brandon Jones and Joshua Turner, Counsel David Sagalyn, and Associates Michael Wheaton and Susan Ballard.

“We were pleased to support Hudson Structured Capital Management in designing and implementing this innovative structure,” said Cioffi. “The transaction reflects a sophisticated approach to fund formation that helps broaden investor access to the shipping finance market.”

Hudson Structured Capital Management is an investment manager focused on alternative assets within the reinsurance and transportation sectors. The closing of HSNF V marks the largest vintage in the Hudson Northern Shipping strategy to date, further underscoring the firm’s growth and innovation in alternative lending.

The firm's Finance Practice Group advises private equity funds, hedge funds, venture capital funds, more than 200 commercial lending institutions, borrowers, credit companies, vendors and financial sponsors. They advise on all facets of finance, including asset-based lending, regulation, acquisition financing, project finance, restructuring and more.