Pine River Adds Ex-SAC Re Chair To Own Reinsurer

Mar 7 2014 | 3:00am ET

Pine River Capital Management’s planned reinsurance business has filled out its top ranks.

The Bermuda-based company, Pine River Re, is expected to name Ken LeStrange its chairman, The Insurance Insider reports. LeStrange was chairman of SAC Re, SAC Capital Advisors’ reinsurance unit, until that hedge fund was forced to sell the company following its guilty plea to insider-trading charges. Pine River was said to be in the running to buy SAC Re, which ultimately went to Two Sigma Investments and was renamed Hamilton Re.

LeStrange is also the former CEO of Endurance Specialty Holdings, whose former president, Bill Jewett, is to be Pine River Re’s CEO.

Pine River hopes to raise between US$500 million and US$750 million for the reinsurer, which will invest its premiums with the New York-based hedge fund.


In Depth

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of