Monday, 15 September 2014
Last updated 2 days ago
Aug 6 2013 | 10:13am ET
The size of Third Point Re's initial public offering continues to grow.
In an amended regulatory filing yesterday, the reinsurance arm of hedge fund Third Point said it would raise up to $370.6 million in the IPO, up from $345 million last month and $250 million when the deal was first announced.
Third Point Re's underwriters have set an offer range of $12.50 to $14.50 per share, with plans to sell 22.2 million shares. At the high end of the range, the IPO would value the company at more than $1.5 billion.
Third Point set up Bermuda-based Third Point Re 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…
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