Kuvare Insurance Services (KIS) launched its third-party asset management business, as part of the company’s expansion across asset-backed and structured private credit, private companies and commercial mortgage debt to unaffiliated insurance customers.
Over the past two years, KIS has built its team of insurance industry professionals and asset class specialists to drive portfolio performance across all Kuvare operating companies.
Along with the launch, Roelke named three key members of its leadership team.
Ana Morales has been appointed Managing Director, Head of Business Development and Product Strategy, where she will be responsible for leading client relationships and advancing the growth of the third-party asset management platform KIS.
Morales brings 17 years of industry experience and comes from Goldman Sachs where she was managing director, responsible for key relationships in the firm’s insurance asset management business.
Previously, she created and led BlackRock’s exchange-traded fund insurance distribution team.
Joseph Orofino joins as Managing Director, Head of Investment Risk Management, holding 20 years of industry experience, most recently at Further Global Capital Management where he was part of the management team of two companies operational.
Previously, he led Aflac’s investment initiatives in non-core fixed income, alternatives and public equities, as well as senior investment and risk management positions at Swiss Re.
Thomas Pasuit joins as Chief Legal Officer, having spent over 16 years at MetLife, most recently as head of the Fixed Income and Alternatives legal team at MetLife Investment Management.
He began his legal career at Connell Foley, LLP, where he specialized in bankruptcy and financial restructuring.
Brian Roelke, President and Chief Investment Officer, said, “Insurance investors continue to be motivated to seek yield in an environment that remains challenging.
“KIS has built in-house bespoke private credit solutions to augment Kuvare’s core fixed income assets, generating approximately $5 billion of primarily investment-grade private credit at attractive book yields relative to publicly traded comparables. .”
Dhiren Jhaveri, Founder and CEO of Kuvare, added, “The launch of the third-party asset management platform and these new appointments reflect our commitment to attracting an extraordinary team to support exceptional client service and portfolio performance. Our talent bank positions us to meet the unique investment objectives of insurers and take advantage of market opportunities to drive portfolio alpha.