Pillar Capital Management Limited
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.
Pillar Capital Management Limited - snapshot
- ILS manager or company name: Pillar Capital Management Limited
- Location (HQ / Domicile): Bermuda
- Date of launch: Jun 2008
- Assets under management *: $2.4 billion (As of January 2021)
- Website link: Pillar Capital Management Limited website
Pillar Capital Management Limited - Details
Pillar Capital Management Limited (“Pillar”) is a Bermuda based incorporated independent investment manager dedicated to investing in insurance related instruments.
Team size and structure:
Number of strategies (how many funds, sidecars or strategies):
Offers private managed accounts?
Pillar’s core investment strategy involves taking risk through indemnity-based reinsurance transactions and committing at least 70% of capital through traditional reinsurance contracts on a collateralized basis. The funds are ‘buy and hold’ funds that invest in non-life insurance risk, predominantly property catastrophe risk – wind, earthquake, tornado, etc. Pillar operates as an independent manager, with 50% of its ultimate parent being owned by management and 50% being owned by a public company with an A+ S&P rating and with nearly $8bn of shareholders’ equity.
Pillar Capital Management Limited (“Pillar”) –
- Offers investors the potential for attractive risk-adjusted returns that have little to no correlation to the financial markets and favorable liquidity terms;
- Offers investors direct access to the reinsurance market in “fund form” in order to create optimized risk profiles to match investor risk appetite;
- Has a 11+ year track record managing ILS strategies;
- Has a team who have focused their careers in the reinsurance market, with senior professional experience averaging 20+ years;
- Creates portfolios that seek to maximize return vs. acceptable tail risk;
- Applies consistent pricing standards for all risks in the portfolio;
- Is an SEC Registered Investment Advisor (“RIA”);
- Maintains a compensation structure which creates a direct alignment of interest between the investment manager/ team and the investors;
- Retains an independent valuation agent as part of the year-end procedures and at other times during the year.
Pillar commenced operations in early 2008 with the Juniperus Insurance Opportunity Fund Limited. Pillar launched Pillar Value Fund Limited on January 1, 2013, and Pillar Strategic Fund Platform Limited on January 1, 2019. Investments are from 150+ investors ranging from funds of funds, pensions, institutions, family offices and high net worth individuals. Mr. Velotti, CEO/CIO has been responsible for the Fund’s investment strategy from inception.
The Manager sources business across a broad spectrum of brokers and intermediaries. This market access is made possible and enhanced by the Management team’s long-term relationships. As part of its liquidity management, the Manager invests in catastrophe “CAT” bonds (private placements that trade on a secondary market).
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*Note: Assets under management are prone to fluctuation so the figures here are either the best available or last submitted by included managers.The Artemis Insurance-Linked Securities Investment Managers & Funds Directory is copyright © Steve Evans Ltd. Reproduction or publication without permission is not permitted. Use of this information within a commercial product, or for profit, without a license is strictly prohibited. Contact us if you would like to use this content or to discuss licensing.
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