Third Point Reinsurer To Go Public

May 7 2013 | 11:14am ET

Third Point hopes to raise about $250 million in an initial public offering of its reinsurance arm.

The hedge fund's Third Point Re has hired Credit Suisse, JPMorgan Chase and Morgan Stanley to explore the IPO, which could come later this year, Reuters reports.

Third Point set up the reinsurer two years ago and has raised $750 million for the business, which is headed by industry veteran John Berger. Third Point founder Daniel Loeb and a pair of private equity firms are among the Bermuda-based reinsurer's primary investors.

Third Point Re invests its capital and premiums in Third Point's hedge funds. Last year, the firm launched a catastrophe reinsurance "side-pocket" vehicle with $50 million.


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...