Company: MHLA
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001412100-25-000043
Chunk: 104

Company: Maiden Holdings, Ltd.
Filing Date: 2025-05-12
Form: 10-Q
Item: Item 1
Chunk 104
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 %Investments in direct lending entities (at cost)85,975 33.8 %83,683 33.3 %Total other investments$163,558 64.3 %$157,016 62.5 %      Total alternative investments$254,249 100.0 %$251,450 100.0 %

Our allocation to alternative investments increased to 50.8% of our total cash and investments held as of March 31, 2025 compared to 48.5% as of December 31, 2024, the combination of additional funding of certain investments based on pre-existing commitments and increases in value in select investments. In addition to the categories described above, we also evaluate our alternative investments by the following asset classes: 

March 31, 2025December 31, 2024($ in thousands)Carrying Value% of TotalCarrying Value% of TotalPrivate Equity$58,922 23.2 %$58,031 23.1 %Private Credit1,808 0.7 %1,909 0.7 %Alternatives103,597 40.7 %104,790 41.7 %Venture Capital26,196 10.3 %23,533 9.4 %Real Estate63,726 25.1 %63,187 25.1 %Total alternative investments$254,249 100.0 %$251,450 100.0 %

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For further details on these alternative investments, see "Notes to Condensed Consolidated Financial Statements: Note 4(b) Other Investments, Equity Securities and Equity Method Investments" included under Part I Item 1. "Financial Information" of this Report on Form 10-Q. Within these asset classes, our portfolio broadly consists of the following types of investments:

•Private Equity – this asset class consists of both fund investments with leading private equity sponsors and direct equity investments in private companies, sometimes in conjunction with our private equity fund sponsors. As of March 31, 2025, $2.5 million or 4.2% of investments in the private equity asset class consisted of investments in private equity funds and $56.5 million or 95.8% consisted of direct equity investments in private companies.

•Private Credit - this asset class consists of both fund investments with leading private credit sponsors and direct credit investments in private companies