Juniperus Capital
| Company type | Private |
|---|---|
| Industry | Hedge fund (collateralised catastrophe reinsurance and insurance-linked securities) |
| Founded | 2008 |
| Headquarters | Bermuda |
Key people |
|
| Website | www |
Juniperus Capital Limited (Juniperus Capital or JCL) is a Bermuda-based hedge fund. It was incorporated in Bermuda on April 11, 2008.[1][2][3] The investment management company became operational in May 2008.[4][5][6]
Juniperus Capital Limited is now known as Pillar Capital Management.[7]
Management
[edit]The fund is managed by CEO and Chairman Philip A. Lotz (who was formerly the CEO of Swiss Re Capital Management and Advisory) and Chief Underwriting Officer, Stephen A. Velotti.[8][9][10]
Juniperus, now Pillar Capital Management, is jointly owned by the Management Team and Transatlantic Holdings, Inc.[11]
Fund
[edit]Juniperus manages Juniperus Insurance Opportunity Fund. The fund focuses on the collateralised catastrophe reinsurance and insurance-linked securities markets.[4][12][13] Substantial investors in the fund include New York-based reinsurance and risk intermediary Benfield Group Ltd., Tokyo-based Itochu Corporation, Transatlantic Reinsurance Co., and Juniperus Capital management.[4][14][15]
Forbes and The Telegraph reported in 2008 that Benfield Group announced it had made a $50 million (£25.3m) cash investment in Juniperus Insurance Opportunity Fund.[14][16][17] The investment was reportedly made through Benfield Advisory, the group's corporate finance section.[4]
The company is named after the Juniperus bermudiana, cedar trees found only in Bermuda that are extremely hardy in the face of hurricanes and other adverse conditions.[18]
Ownership
[edit]Benfield holds a significant ownership position in Juniperus Capital, having purchased $6.6 million of the shares of the company.[4][14][19] Benfield also committed to provide up to $2 million in working capital to Juniperus Capital.[14][19]
In December 2009, Itochu Corporation made a JPY 5 billion equity investment in Juniperus Capital.[15][20][21]
References
[edit]- ^ "Review of Companies Register – J Public Companies". Bermuda Government. Retrieved January 17, 2011.
- ^ "Kathryn Bache, Christopher Lotz", The New York Times, November 29, 2008
- ^ Matthias Knab (October 19, 2010). "Occasional successes of con artists haunt hedge fund industry". Opalesque. Retrieved January 17, 2011.
- ^ a b c d e "Benfield backs investment fund", Colleen Mccarthy, Business Insurance, May 27, 2008, Retrieved January 17, 2010
- ^ "Benfield Group Ld: Launch of Juniperus Capital L". The Motley Fool. May 27, 2008. Archived from the original on July 17, 2011. Retrieved January 17, 2011.
- ^ Brodsky, Matt (April 1, 2010). "Cat out of the bag: whether cat bond investors are handed weaker risks was the topic of a debate in New York". MoneyWatch. Archived from the original on July 10, 2012. Retrieved January 17, 2011.
- ^ "Juniperus Capital Hires Chris McKeown as CEO". www.businesswire.com. 2012-05-14. Retrieved 2024-02-26.
- ^ "Bios". Juniperus Capital. Archived from the original on March 17, 2012. Retrieved March 20, 2016.
- ^ "Profiting from the Insurance Risk Market". Yahoo! Finance; Press Release. October 25, 2010. Retrieved January 17, 2011.
- ^ "Velotti named Juniperus CUO". Trading Risk. June 18, 2009. Retrieved January 17, 2011.
- ^ "TransRe and Management of Pillar Capital Increase Ownership Stake in Pillar to 50% Each | Pillar Capital Management Limited". www.pillar-capital.com. 2014-06-24. Retrieved 2024-02-26.
- ^ "Cash back with new Benfield fund and reinsurer". The Insurance Insider. May 30, 2008. Retrieved January 17, 2011.
- ^ "Providing a choice; Philip Lotz, ceo and chairman of Juniperus Capital, answers STORM's questions". Catastrophe. October 2, 2009. Retrieved January 17, 2011.
- ^ a b c d "Benfield invests $50 mln in Juniperus Capital Fund". Forbes. May 27, 2008. Retrieved January 17, 2011.[dead link]
- ^ a b "Juniperus bags $40mn from Japanese equity partner". Trading Risk. Retrieved January 17, 2011.
- ^ David Ltterick (June 1, 2008). "Get an investment top-up from the growing world of Vodafone". The Daily Telegraph. Retrieved January 17, 2011.
- ^ Anthony Hilton (May 29, 2008). "Investment banks' big question". London Evening Standard. Archived from the original on September 14, 2012. Retrieved January 17, 2011.
- ^ "Origin of the Juniperus Name". Juniperus Capital. Archived from the original on November 9, 2010. Retrieved March 20, 2016.
- ^ a b "Benfield Group invests US$50 mln in Juniperus Insurance Opportunity Fund". RTT News. May 27, 2008. Archived from the original on January 1, 2011. Retrieved January 17, 2011.
- ^ "ITOCHU Launches Reinsurance Business". ITOCHU Corporation. December 22, 2009. Archived from the original on July 17, 2011. Retrieved January 17, 2011.
- ^ "ITOCHU Corporation; Key Developments". Reuters. Retrieved January 17, 2011.