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August 2013/1

  • Changes to the Jobs Act aimed at loosening advertising restrictions on private securities will not be a game-changer for the ILS market, but the new regulations will remove some constraints on market participants, according to legal experts.
  • Leading ILS fund manager Nephila Capital has turned away more than $1bn of capital after closing some of its funds to new investors earlier this year, in a sign of the strength of investor demand for the asset class
  • Private equity behemoth Blackstone is in talks to buy the up-for-sale stake in Goldman Sachs' UK subsidiary Rothesay Life, which is valued at between £800mn-£900mn.
  • Third Point Re, the Bermudian reinsurer founded by Dan Loeb's hedge fund, has raised $252.2mn from its initial public offering (IPO), net of costs.
  • JP Morgan Asset Management and AQR Capital Management are the latest institutions to establish new catastrophe bond strategies, Trading Risk can reveal