Pine River Plans Reinsurer

Feb 18 2014 | 11:14am ET

Pine River Capital Management is set to become the latest hedge fund to go into the reinsurance business.

The New York-based firm hopes to raise between US$500 million and US$750 million for the Bermuda-based reinsurer, which will be called Pine River Re. As with similar reinsurers backed by Greenlight Capital and Third Point, Pine River Re will invest its premiums with its namesake hedge fund, giving Pine River a source of permanent capital.

Pine River Re will be headed by former Endurance Specialty Holdings President Bill Jewett.

Late last year, Pine River was said to be in the running for SAC Capital Advisors' reinsurer, which the hedge fund put up for sale as it prepared to plead guilty to insider-trading charges and stop managing outside capital. SAC Re eventually went to Two Sigma Investments and was renamed Hamilton Re.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR