Wednesday, 22 October 2014
Last updated 14 hours ago
Jun 9 2008 | 10:48am ET
The Man Group has taken its second big stake in an alternative investment firm this year. The London-based firm has struck a deal to buy 25% of Nephila Capital, which focuses on insurance-based investments.
Man will pay US$50 million for the stake in Bermuda-based Nephila. The minority stake in the firm, which manages some US$2.4 billion, will be part of Man Environmental Capital Opportunities, the environmental private equity division it launched in April.
“This transaction further develops Man’s strategy to expand the range of opportunities for our investors,” Man chief Peter Clarke said. “The natural catastrophe and weather derivative markets offer significant opportunities for uncorrelated alternative investment returns.”
In addition to catastrophe bonds and weather derivatives, Nephila focuses on insurance-linked securities and insurance swaps, among other insurance-based instruments.
In March, Man paid $245 million for a 50% stake in New York-based credit hedge fund shop Ore Hill Partners.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...