Pentelia Capital Management (Bermuda) Ltd. and Mitsubishi Corporation have launched a joint venture titled Pentelia Diamond Capital Management who will look after a new catastrophe bond and insurance linked security fund which we hear will be called Eolia Diamond Ltd. The tie up with Mitsubishi has allowed Pentelia to access the Japanese market for capital for the first time.
The fund of $132m will invest in both catastrophe insurance linked securities, mortality insurance linked securities and also some retrocessional contracts.
