Leadenhall Capital Partners
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The ruling indicated it was unlikely all claims would be dismissed, as defendants had requested. -
The ILS manager has hit back at an attempt by the defendants to have the case dismissed.
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The class of 2023-24 cat bond funds will grow existing investors and add new ones.
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LCP said the suit aims to frustrate its efforts to enforce contractual rights.
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In an amended complaint, the ILS manager claims A-Cap has exerted control beyond its equity interests.
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The timing is “opportune” to start the strategy according to Bennelong.
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Leadenhall first filed its lawsuit against 777 Partners in May this year.
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The capital will be allocated to a pure cat bond strategy, sources have confirmed.
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Both vehicles’ credit ratings outlook was also deemed as stable.
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The ILS manager claims that 777 Partners “double-pledged” collateral.
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The pension fund’s ILS allocation as of the end of 2023 was CHF300.3mn ($356.8mn).
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ILS could benefit from focusing on the social aspect of ESG.
