Company: MHLA
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0001412100-25-000011
Chunk: 167

Company: Maiden Holdings, Ltd.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 7
Chunk 167
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35,272 11.4 %Privately held preferred stocks(1)6,369 2.5 %6,369 2.1 %Publicly traded equity investments in common stocks— — %81 — %Total equity securities13,147 5.2 %41,722 13.5 %Real estate investments57,541 22.9 %49,897 16.1 %Other equity method investments23,746 9.4 %31,032 10.1 %Total equity method investments81,287 32.3 %80,929 26.2 %Private equity funds25,123 10.0 %47,383 15.3 %Private credit funds1,909 0.8 %27,806 9.0 %Privately held equity investments(1)46,301 18.4 %42,194 13.7 %Investment in direct lending funds (at cost)83,683 33.3 %69,005 22.3 %Total other investments157,016 62.5 %186,388 60.3 %      Total alternative investments$251,450 100.0 %$309,039 100.0 %

(1) The categories for privately held preferred stocks and privately held equity investments reported above includes a reclassification for a particular investment from equity securities to other investments at December 31, 2024 and 2023 due to new information received in the recent reporting period.

Our allocation to alternative investments decreased to 48.5% of total cash and investments as of December 31, 2024 compared to 51.3% as of December 31, 2023; and increased to 556.4% of our total shareholders' equity as of December 31, 2024 compared to 124.0% as of December 31, 2023. Our alternative investment portfolio decreased in relation to total cash and investments reflecting the ongoing shift in our strategy as described in the Overview section.

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In addition to the categories described above, we also evaluate our alternative investments by the following asset classes: 

December 31,20242023($ in thousands)Carrying Value% of TotalCarrying Value% of TotalPrivate Equity$58,031 23.1 %$82,230 26.6