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

Dillon Eustace: The Advantages of ICAVs

Feb 11 2016 | 7:51pm ET

As the growth of alternative investment vehicles continues, global asset managers...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...