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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 service provider will be merged with Inflexion private equity’s existing portfolio manager Ocorian.
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The ILS manager will be integrated into the Schroders Private Assets unit and renamed Schroder Secquaero.
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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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Fosun said Tenax Capital will become one of its most important European asset management platforms.
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Ultimately, with advantages and challenges in any ownership situation, the parentage of an ILS platform is not going to be the determining factor in its success.
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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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This comes as Lockton has also been on a recruitment drive to boost its reinsurance division.
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An existing longevity swap held by the Rolls-Royce UK Pension Fund was restructured as part of the transaction.
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The deal valued BMS at £500mn and is expected to close in the third quarter.
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The minority sale will leave the firm operating independently, the firm’s co-founders told Trading Risk.