Elementum Advisors
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Ben Somers, former head of investor relations, has left after more than 11 years at the company. -
Jagoda was one of the founding staff at Elementum.
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The specialist ILS manager has also made a number of senior appointments.
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CEO George Manning Rountree says the firm's Elementum Advisors business is in good shape.
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The investor bought a minority stake in Elementum last year.
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The $1.28bn fund allocates assets across multiple alternative strategies.
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Elementum is a “well-positioned business in an attractive sector,” the asset manager said in a Securities and Exchange Commission filing.
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The industry’s market heavyweights remain split amongst different types of ownership models.
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The minority sale will leave the firm operating independently, the firm’s co-founders told Trading Risk.
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The firm will invest $50mn in Elementum’s ILS funds.
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The Munich Re vehicle funded by Dutch pension fund service provider PGGM has reached $400mn for 2019.
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The ILS investor says 7 percent annual returns have made the asset class an attractive opportunity for the fund.
