Monday, 22 September 2014
Last updated 17 min ago
Oct 28 2011 | 12:36pm ET
SAC Capital Advisors will join Greenlight Capital and Third Point in the reinsurance business.
The Stamford, Conn.-based hedge fund giant's founder, Steven Cohen, has told clients the firm will launch a Bermuda-based reinsurer next year. Cohen said he hopes to raise $500 million for SAC Re, all of which will be invested in SAC funds, Reuters reports.
SAC Re will focus on both property in disaster-prone areas and casualty.
Cohen's move follows that of Third Point's Daniel Loeb, who raised $500 million for his own reinsurance firm earlier this year. Loeb's friend David Einhorn has been in the reinsurance business for some seven years, having launched Greenlight Capital Re in 2004.
Cohen has hired Simon Burton to lead SAC Re. Burton is the former deputy CEO of Lancashire Holdings and CEO of Lancashire Insurance Co.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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