Friday, 19 September 2014
Last updated 3 hours 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.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.