XL Group Takes Minority Stake In Ada Investments

Sep 15 2014 | 8:29am ET

Insurer XL Group has bought a minority stake in New York-based alternative investment specialist Ada Investment Management.

As part of the deal, XL has made a capital commitment to Ada's flagship global equity market neutral strategy. The value of the commitment was not revealed, but it was described as “sizeable.”

Ada Investments, founded by former Wharton School of Business Professor Vinay Nair, uses a collection of investment themes and indicators across both developed markets and emerging markets to capture a different source of return.  Ada aggregates these proprietary investment themes, which have been vetted over time in multiple markets, into portfolio strategies with differentiated returns.

Said Nair in a statement: “We are delighted to have the opportunity to expand our business through the investment of a seasoned institutional investor that has an outstanding reputation and a long term view. This strategic investment provides an important validation of our investment process and adds XL’s business-building experience to Ada Investments’ current capabilities.”

Ada Investments employs a staff of 17. It is based in New York and has a presence in Mumbai, India and Rio de Janeiro, Brazil.

XL Group,  through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products.

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