180 Degree Capital

What 180 Degree Capital does

180 Degree Capital Corp. was a publicly traded registered closed-end management investment company (formerly Nasdaq: TURN), founded in 1983 and headquartered in Montclair, New Jersey. Following its business combination with Mount Logan Capital Inc., completed in November 2025, the entity was absorbed into a new publicly listed company operating as Mount Logan Capital Inc. (Nasdaq: MLCI), headquartered at 650 Madison Avenue, New York City. The combined firm manages over $2+ billion in assets under management across its investment and insurance subsidiaries.

The company's two core product lines are credit investment management, which delivers attractive risk-adjusted returns across market cycles, and an insurance/reinsurance vertical focused on reinsuring annuity liabilities, operated through Sierra Crest Investment Management. Together these segments generate recurring revenue streams tied to AUM and reinsurance arrangements. The technology stack is not technology-focused; the firm's value is built on specialized credit underwriting expertise, insurance liability management, and the institutional infrastructure of a SEC-regulated public company with audited financials by Deloitte & Touche LLP.

The business model is fee-based: recurring asset management fees on credit investments, recurring fee streams from Sierra Crest Investment Management's annuity reinsurance activity, and one-time proceeds from the January 2026 issuance of $40 million in 8.00% senior unsecured notes due 2031 (BBB- rated by Egan-Jones). The customer base is concentrated in institutional and professional investors seeking credit exposure and reinsurance counterparties seeking annuity liability transfer. Net asset value per share stood at $4.80 as of June 30, 2025, and the firm carries a very lean headcount of 1-10 employees.

Name

180 Degree Capital

Legal name

Mount Logan Capital Inc.

Website

http://www.180degreecapital.com/

Company type

Public

Founded year

1983

Operating status

Acquired

Headcount range

1–10 employees

Short description

180 Degree Capital, now operating as Mount Logan Capital Inc. (Nasdaq: MLCI) following a November 2025 merger, is a publicly listed asset manager and insurance solutions firm managing over $2 billion in AUM, serving institutional investors with credit investment management and annuity liability reinsurance through Sierra Crest Investment Management.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Investment Advice (6282)

akta.pro primary industry

Large-Cap Equity (Active) (FSAAAIAA)

akta.pro secondary industries

Equity Capital Advisory (Private Equity Placements, Growth Capital) (BPAHAOAE), Turnaround / Restructuring Private Equity Funds (FSANAKAC)

Keywords

• Asset management
• Credit investments
• Insurance solutions
• Annuity reinsurance
• Alternative investments

Headquarters

HQ city

Montclair

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Asset Management Fees: Recurring management fees from managing credit investments and other assets under management. Revenue generated through the business combination with Mount Logan Capital.
2. Sierra Crest Investment Management: New recurring revenue stream initiated following the business combination with 180 Degree Capital, as part of Mount Logan Capital's operations.
3. Senior Notes Issuance: Fixed income instruments issued to public markets; 8.00% senior unsecured notes due 2031, representing entry into U.S. public fixed income markets.

Distribution channels1 record

Marketing channels3 records

Core offering

180 Degree Capital, through its successor Mount Logan Capital Inc., is a publicly listed asset manager and insurance solutions business. It delivers credit investment management services targeting attractive risk-adjusted returns across market cycles and operates an insurance vertical that reinsures annuity liabilities through Sierra Crest Investment Management, managing over $2+ billion in assets under management.

Product overview

180 Degree Capital, following its business combination with Mount Logan Capital Inc., operates as a publicly listed asset manager and insurance solutions business (Nasdaq: MLCI). The company offers two core product lines: credit investment management services delivering attractive risk-adjusted returns, and an insurance/reinsurance vertical focused on reinsuring annuity liabilities through Sierra Crest Investment Management. Together, these products generate recurring revenue streams while managing over $2+ billion in assets under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Credit Investment Management

Quantifiable outcome

• Over $2 billion in AUM managed across investment and insurance subsidiaries

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Mount Logan Capital Inc.coreStrategic or Co-development Partner · 1 January 2025180 Degree Capital Corp. completed a business combination with Mount Logan Capital Inc. The merger resulted in a new company listed on Nasdaq as Mount Logan Capital Inc., combining the investment management capabilities of both entities to enhance shareholder value and create a diversified asset management and insurance solutions business.
• Sierra Crest Investment ManagementcoreStrategic or Co-development Partner · 1 January 2025Following the business combination, Mount Logan Capital (successor to 180 Degree Capital) initiated a new recurring revenue stream from Sierra Crest Investment Management as part of the integrated operations.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Blackstone Credit: Credit arm of Blackstone, the largest alternative asset manager, offering direct lending, mezzanine, and structured credit products that directly overlap with Mount Logan's credit investment management offering.
• Carlyle Credit: Credit segment of Carlyle Group, a global alternative asset manager with direct lending and structured credit strategies serving institutional investors — broadly comparable to Mount Logan's institutional credit focus.
• KKR Credit: Credit and structured credit business within KKR, including direct lending and asset-based finance, with growing insurance-linked capital via Global Atlantic — comparable in product breadth and institutional focus.
• Apollo Global Management: Diversified alternative asset manager with a massive credit franchise (Apollo Credit) and the Athene insurance platform, mirroring Mount Logan's credit + insurance/reinsurance structure at significantly larger scale.

Direct peers

• Owl Rock Capital (Blue Owl Capital): Publicly traded alternative asset manager with a credit franchise (Owl Rock Credit) and insurance solutions through Kuvare, a structure very similar to Mount Logan's dual credit/insurance model.
• Bain Capital Credit: Credit-focused business of Bain Capital, offering direct lending, mezzanine, and special situations strategies. Comparable to Mount Logan's credit investment management focus.
• Sixth Street: Large credit-oriented alternative asset manager with insurance partnerships (e.g., Elips Life). Highly comparable business mix to Mount Logan Capital's credit and insurance/reinsurance strategy.
• Whitehorse Capital: Specialty credit and private credit manager with insurance-linked capital, a smaller-scale direct peer mirroring Mount Logan's credit + insurance/reinsurance positioning.
• CIFC Asset Management: Publicly traded credit-focused asset manager specializing in CLOs and leveraged loans. Comparable in scale, public-market status, and credit-specialist positioning to Mount Logan Capital.
• Ares Management: Public alternative asset manager with a large credit-focused segment (Ares Credit Group) and growing insurance/reinsurance operations. Closest direct comparable to Mount Logan's credit-plus-insurance model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/harrisandharris
• Facebookfacebook.com/harrisharrisvc

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments109 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 180 Degree Capital