Kirkland Advises Castlelake on Launch of Reinsurer Itasca Re

Kirkland & Ellis advised Castlelake, L.P. (“Castlelake”), a global alternative investment manager specializing in asset-backed private credit with 17 years of experience investing in, financing and managing aviation assets, on the creation of a Bermuda-licensed reinsurance company, Itasca Re Limited, to offer insurance financing solutions to buyers and owners of commercial aircraft assets. Itasca Re will reinsure aircraft non-payment insurance (ANPI) policies issued by Starr Insurance Companies and brokered by Piiq Risk Partners, an insurance broker associated with The Ardonagh Group.

Read Castlelake’s press release

The Kirkland team was led by corporate partners Kimberly Han and Rajab Abbassi and associate Sandra Ghobraiel; insurance regulatory partner Parimah Hassouri; technology & IP transactions partners Neil Hirshman and Jeffrey Seroogy and associate Jessie Perlman; investment funds partners Erica Temel, Samuel Francis and Samuel Weber; executive compensation partner Rohit Nafday and associate Michal Galayevich; and tax partner Philip Cooke.