Monday, 27 April 2015
Last updated 4 hours ago
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.
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…