Petra Haven Capital LLC

The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is a one-stop resource for information on insurance or reinsurance linked investment managers and their ILS fund strategies.

Petra Haven Capital LLC - Snapshot:

  • ILS manager or company name: Petra Haven Capital LLC
  • Location (HQ / Domicile): Charlotte, NC
  • Date of launch: Jan 2014
  • Assets under management *: ?
  • Website link: Petra Haven Capital LLC website

Petra Haven Capital LLC - Details

Company profile:

Petra Haven Capital, LLC (“Petra Haven”), manages the Petra Haven Capital Insurance Linked Securities Fund, L.P. (the “ILS Fund” or the “Fund”), which provides investors an alternative asset class with low correlation to the world wide financial markets.

In addition to the co-mingled fund Petra Haven Capital also offers investors the option of separately managed accounts with bespoke strategies that tailor returns to an investors appetite for risk.

Team size and structure:
Petra Haven Capital consists of three partners with collective experience in (re)insurance, capital markets, and securitization. All partners share in the decision making process, and act as co-portfolio managers of the “ILS Fund”.
Number of strategies (how many funds, sidecars or strategies):

1

Offers private managed accounts?

Yes

Strategy:

Petra Haven Capital, LLC (“Petra Haven”), manages the Petra Haven Capital Insurance Linked Securities Fund, L.P. (the “ILS Fund” or the “Fund”), which provides investors an alternative asset class with low correlation to the world wide financial markets.

The “ILS Fund” focuses only on US geographic perils. Our methodology of investing is based on three main factors:

1) Investing in ILS requires a heavy concentration of capital in a few areas as every portfolio needs to create a “miss factor”.
2) The quantity, quality and accuracy of data is far superior on US based risk.
3) Historic probability of attachment to yield multipliers for a 1% probability of loss have been greater than other geographic areas (I.e. European windstorm, Japanese earthquake and typhoon). Petra Haven Capital uses a proprietary counter-party ceding model in it’s risk selection process.

Petra Haven Capital Insurance Linked Securities Fund, L.P.

Each investor is subject to an initial capital lockup. The “ILS Fund” structure does allow for side pocket investments as a way for investors to change their individual risk profile inside of the fund.

The structure of the Petra Haven Capital “ILS Fund” is designed to allow allocations to all areas of “ILS”. Using this strategy the General Partner and Investment Manager will allocate capital to the various structured financial products on a risk adjusted basis as market conditions warrant.

At this time (May 2014) Petra Haven Capital is only deploying capacity into catastrophe bonds. This decision is based on the current soft market conditions. Our specific focus is risk outside of 1 in 100 year events and catastrophe bonds are the best way to deploy capital in this risk profile. As market conditions change Petra Haven Capital will deploy capacity into other ILS asset classes and other probability of events.

Type of investment strategy (fund, sidecar etc):

Open-ended

Launch date:

Jan 2014

Sharpe ratio:

7.82 (Ten year back-tested and live returns)

Annualised standard deviation:

1.17 (Ten year back-tested and live returns)

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The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is provided as-is. Best efforts are made to ensure the contents are accurate at the time of publication but there may be some omissions. Please contact Artemis should you require a change to your listing.




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