Sunday, 26 April 2015
Last updated 1 day ago
Jul 31 2013 | 9:29am ET
Dan Loeb's plan to take Third Point's reinsurance business public is going even better than expected.
Third Point Re said it will raise up to US$345 million in an initial public offering. When the plan was announced earlier this year, the Bermuda company was seeking only US$250 million.
The more ambitious target was laid out in an updated filing with the U.S. Securities and Exchange Commission this week. It is unclear when exactly Third Point Re will float, but the IPO will likely come later this year.
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. Loeb and a pair of private equity firms are among the reinsurer's primary investors. Proceeds from the IPO will allow the company to increase its underwriting capacity.
Third Point Re invests its capital and premiums in Third Point's hedge funds.
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…