New York, NY (PRWEB) September 10, 2012
Auster Capital Partners (“ACP”), a private equity firm, announced today that it has completed an equity financing in Assure Space, LLC.
Assure Space offers underwriting and due diligence expertise to participating insurance companies who desire their portfolios to include space-related risks. The Company has agreements with participating insurers that grant it authority to act as their intermediary and perform a range of responsibilities on their behalf. These include identifying and evaluating opportunities and underwriting insurance commitments.
“We are very excited to be partnering with Auster Capital Partners,” said Assure Space Managing Director and Lead Underwriter Richard Parker. Mr. Parker has over 25 years of experience in the space industry having also held senior positions with the European satellite manufacturer EADS Astrium and satellite operator Intelsat. “The recent dispatch of federal funds for the U.S. Space Industry has presented the insurance industry with an enormous opportunity to underwrite high demand risks. ACP’s unique offering of managerial and financial expertise have enabled us to be at the forefront of this nascent market.” Mr. Parker also credits the role ACP played in effectuating the Company’s recent partnership with Space Florida, the spaceport authority and aerospace economic development agency of the State of Florida, created to strengthen Florida’s position as the global leader in space commerce.
ACP’s Managing Partner Chuck Auster added, “The Assure Space team, with Richard at the helm, is a true vanguard in the space insurance industry. We believe it is poised to blossom in the developing U.S. market of private space commerce. As a private equity firm we consistently look to invest in the best and brightest leadership; with Assure Space, we have found such a team.
Assure Space is an underwriting agency which provides innovative and cost effective space insurance products. It can provide insurance coverage for the launch of all types of satellites and their continuing in-orbit operation. Assure Space is also developing new insurance products to facilitate such evolving activities as the assembly and maintenance of orbital facilities, transportation of cargo and crew to and from such facilities, spaceport operations, space tourism, and other space-related activities.
AUSTER CAPITAL PARTNERS
Auster Capital Partners (“ACP”) is a private equity firm, with an expertise in the telecommunications, managed services, cloud computing and information technology sectors. ACP seeks to invest in private companies with a strong value proposition and a proven management team. Its advisory business provides transactional expertise offering due diligence, deal structuring and a variety of services which includes outsourced deal management, financial restructuring and capital raising. Auster Capital Partners was founded in 2008 and is headquartered in Jersey City, New Jersey with offices in London, England and an affiliate office in Santiago, Chile. http://www.austercapitalpartners.com