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The increase suggests the Lancashire-owned firm has grown to $750mn of assets under management. -
The retro-focussed Upsilon fund saw limited growth, while the Medici cat bond fund attracted $107mn in new capital.
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The institutional asset manager ownership model could help the ILS asset class shed its niche feel, Secquaero founder Dirk Lohmann suggested to Trading Risk.
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The funds were raised over 18 months, portfolio manager Florian Steiger said.
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PGGM senior investment director recognised for her exceptional contribution to the sector.
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The ILS platform’s chief operating officer had helped drive growth to $1.5bn assets under management.
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There will be no change to the running of the ILS fund Merion Square or its strategy, managing partner Richard Pennay told Trading Risk.
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The manager gained approval from a majority of investors in its Guernsey-listed Securis I fund to implement side pocket shares.
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Research by the broker shows the ILS industry contracted by $4bn in the first quarter to $93bn, with $15bn of capital still trapped.
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Fosun said Tenax Capital will become one of its most important European asset management platforms.
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Investors sought to redeem about $200mn in 2019 from the shrinking Securis I fund, but the London manager has grown its lower-risk non-life fund.
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Winners were recognised at the 11th Trading Risk Awards ceremony, held in London last night.
