AuM data
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The ILS manager’s existing Medici cat bond strategy stood at $1.68bn in assets under management (AuM) as of 30 September. -
CEO Jonathan Zaffino said he saw opportunities for expansion in casualty.
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The UCITS fund was launched in 2021 and invests in cat bonds and the money markets.
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The headline figure of $7.72bn includes $3.11bn of DaVinci equity plus debt.
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Strong growth in fee income builds on the favourable rating environment.
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Daniel Ineichen, former co-head of ILS, had been with the company for nearly two decades.
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Fee income fell by 42% to $25.1mn in Q3 over the prior-year quarter.
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The pension scheme has been winding down its ILS portfolio in recent years.
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The ILS allocation increased in dollar terms and held steady in euros.
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The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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The firm’s new name is inspired by 18th Century Swiss mathematician Leonard Euler.
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The deal freed up capital held against deals written in 2019 and 2020.
