Tangency Capital
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The investment will be the first allocation to ILS for the public sector pensions investor Funds SA. -
The award of the mandates marks the California public pension plan’s entry into ILS.
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She was previously head of investor relations and business development for North America and Australia at Securis.
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The Swiss pension fund’s ILS allocation stood at 4.9% of the total fund as of 25 March.
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The independent manager’s post-Ian growth has helped it more than double from prior estimated assets under management.
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Ambassador was set up in 2021 with Embassy Asset Management the named investment adviser.
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The project which began last year in Zurich has now expanded to a group standing for $29bn of ILS assets under management globally.
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The manager received a mandate from a new investor who had taken the call to come in ahead of Hurricane Ian.
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The 2017 start-up has previously focussed on quota share investing.
