Sec Form 13G Filing - Gallatin Point Capital LLC @ Bowhead Specialty Holdings Inc.

Sec Form 13G Filing - Gallatin Point Capital LLC filing for Bowhead Specialty Holdings Inc. (BOW) - 2024-10-29

Insider filing report for Changes in Beneficial Ownership

Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. __)*

Bowhead Specialty Holdings Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

10240L102

(CUSIP Number)

September 30, 2024

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☐ Rule 13d-1(c)

☑ Rule 13d-1(d)

*	The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).


CUSIP No. 10240L102		SCHEDULE 13G		Page 2 of 9 Pages

(1)	The percent of class was calculated based on 32,658,823 shares of Common Stock outstanding as of August 8, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.


CUSIP No. 10240L102		SCHEDULE 13G		Page 3 of 9 Pages

(1)	The percent of class was calculated based on 32,658,823 shares of Common Stock outstanding as of August 8, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.


CUSIP No. 10240L102		SCHEDULE 13G		Page 4 of 9 Pages

(1)	The percent of class was calculated based on 32,658,823 shares of Common Stock outstanding as of August 8, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.


CUSIP No. 10240L102		SCHEDULE 13G		Page 5 of 9 Pages

(1)	The percent of class was calculated based on 32,658,823 shares of Common Stock outstanding as of August 8, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.


CUSIP No. 10240L102		SCHEDULE 13G		Page 6 of 9 Pages

(1)	The percent of class was calculated based on 32,658,823 shares of Common Stock outstanding as of August 8, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.


CUSIP No. G5005R107		SCHEDULE 13G		Page 7 of 9 Pages


Item 1.		Issuer

	(a)	Name of Issuer:

		Bowhead Specialty Holdings Inc. (the “Issuer” or the “Company”).

	(b)	Address of Issuer’s Principal Executive Offices:

		452 Fifth Avenue New York, NY 10018

Item 2.		Filing Person

	(a) – (c)	Name of Persons Filing; Address; Citizenship:

		(i) GPC Partners Investments (SPV III) LP, a Delaware limited partnership (“GPC Fund”); (ii) GPC Partners GP LLC, a Delaware limited liability company (“GPC GP”); (iii) Gallatin Point Capital LLC, a Delaware limited liability company (“Gallatin Point”); (iv) Matthew B. Botein, a citizen of the United States of America; and (v) Lewis A. (Lee) Sachs, a citizen of the United States of America. GPC Fund is the direct holder of the securities listed this Schedule 13G. Gallatin Point is the managing member of GPC GP, which is the general partner of GPC Fund. Matthew B. Botein and Lewis A. (Lee) Sachs are the Co-Founders and Managing Partners of the ultimate parent of Gallatin Point and collectively make voting and investment decisions on behalf of GPC Fund. The address of the principal business office of the Reporting Persons is: 660 Steamboat Road Greenwich CT 06830

	(d)	Title of Class of Securities:

		Common Stock, par value $0.01 per share

	(e)	CUSIP Number: 10240L102

Item 3.

If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:

Not applicable.


CUSIP No. 10240L102		SCHEDULE 13G		Page 8 of 9 Pages


Item 4.	Ownership.

	(a) — (c)	Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.


	Number of Shares Beneficially Owned		Sole Voting Power		Shared Voting Power		Sole Dispositive Power		Shared Dispositive Power		Percentage of Common Stock Outstanding
GPC Fund		14,147,107		14,147,107		—		14,147,107		—		43.3	%
GPC GP		14,147,107		14,147,107		—		14,147,107		—		43.3	%
Gallatin Point Capital		14,147,107		14,147,107		—		14,147,107		—		43.3	%
Matthew B. Botein		14,147,107		14,147,107		—		14,147,107		—		43.3	%
Lewis A. (Lee) Sachs		14,147,107		14,147,107		—		14,147,107		—		43.3	%

The percent of class was calculated based on 32,658,823 shares of Common Stock outstanding as of August 8, 2024, as disclosed in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 8, 2024.

Item 5.

Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date hereof the reporting persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following. ☐

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Not applicable.

Item 8.

Identification and Classification of Members of the Group.

GPC Fund and American Family Mutual Insurance Company, S.I. (“AFMIC”) are parties to a Voting Agreement dated as of May 22, 2024, and each may be deemed to be members of a “group,” as defined in Rule 13d-5 under the Exchange Act. The share ownership reported herein does not include any shares of the common stock owned by AFMIC, and each Reporting Person disclaims beneficial ownership of any shares of the common stock owned by AFMIC to the extent GPC Fund and AFMIC may be deemed to be members of a group.

Item 9.

Notice of Dissolution of Group.

Not applicable.

Item 10.

Certification.

Not applicable.


CUSIP No. 10240L102		SCHEDULE 13G		Page 9 of 9 Pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: October 29, 2024

GPC PARTNERS INVESTMENTS (SPV III) LP

By: GPC Partners GP LLC

By: Gallatin Point Capital LLC

/s/ Lewis A. (Lee) Sachs

Name: Lewis A. (Lee) Sachs

Title: Managing Partner

GPC PARTNERS GP LLC

By: Gallatin Point Capital LLC

/s/ Lewis A. (Lee) Sachs

Name: Lewis A. (Lee) Sachs

Title: Managing Partner

GALLATIN POINT CAPITAL LLC

/s/ Lewis A. (Lee) Sachs

Name: Lewis A. (Lee) Sachs

Title: Managing Partner

/s/ Matthew B. Botein

MATTHEW B. BOTEIN

/s/ Lewis A. (Lee) Sachs

LEWIS A. (LEE) SACHS

NAMES OF REPORTING PERSONS

GPC Partners Investments (SPV III) LP

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) ☐ (b) ☒

SEC USE ONLY

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware