Bermuda-based catastrophe reinsurance hedge fund Nephila Capital has promoted David Oliveira to partner.
Oliveira, who has been with the firm since 2006, is a senior portfolio manager. Prior to joining Nephila, Oliveira was head of business development at HSBC Investments (Bermuda), responsible for providing asset management solutions to the captive, and reinsurance community. He began his career at the Bank of Bermuda in 1996 as an investment analyst and later a foreign exchange trader. In 2000, he joined the Bermuda-based global macro hedge fund Nexus Capital in a role encompassing trade execution, acquisition of market information and monitoring portfolio risk. He joined XL Capital’s Weather & Energy group in 2003, trading European and Japanese weather derivatives.
Oliveira joins the existing eight partners in the business, part of an overall team of over 45.
Nephila Capital offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps and weather derivatives. The firm had assets under management of about $7 billion as of September 30, 2012.