Wednesday, 1 April 2015
Last updated 7 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.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…