Antares funds in place

New York based private equity investment firm, Lightyear Capital announced that it has put in place all the funding for Antares Holdings, the Bermuda-based holding company which will provide the capital for Lloyd’s syndicate 1274. The latter will be managed by Chaucer Syndicates Ltd. The capital for Antares Holdings is being provided by Lightyear Capital and a number of other investor groups, according to Mark Vassallo, managing director of Lightyear. Equity partners in the venture include insurance groups Chaucer Holdings and Württembergische Versicherung AG while other private equity sponsors include Hamilton Lane and Norwest Equity Partners. Stephen Redmond will serve as the active underwriter on syndicate 1274.