Insurer Takes Stake In MatlinPatterson

Oct 9 2012 | 12:56pm ET

Insurer Allied World Assurance has bought a minority stake in alternative investments firm MatlinPatterson.

AWA acquired a substantial stake in New York-based MatlinPatterson, which has $5.5 billion in assets. As part of the deal, the insurer will invest $500 million in MatlinPatterson's fund, winning fee discounts as a co-owner of the firm.

MatlinPatterson was founded a decade ago by former Credit Suisse executives David Matlin and Mark Patterson, the latter of whom until recently served on AWA's board of directors. The firm, which has both hedge fund and private equity funds in its stable, focuses on distressed investments.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of