Tuesday, 31 March 2015
Last updated 31 min ago
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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…