private equity fund

Private equity and alternative investment specialist Apollo Global Management, LLC is reported to be out raising capital for a number of new investment funds, with as much as $5.5 billion said being raised for specific insurance-linked fund strategies.

Athene Holding Ltd., the life and retirement reinsurance focused company that is majority owned and works alongside private equity specialists Apollo Global Management, LLC, has entered into a $19 billion reinsurance agreement covering $19 billion of fixed and fixed indexed annuity liabilities for Voya Financial.

Nassau Reinsurance, the start-up backed by San Francisco based private equity investor Golden Gate Capital, has again demonstrated its desire to acquire insurance assets linked to long-term capital with the acquisition of Universal American.

Nassau Reinsurance Group Holdings L.P., the start-up backed by San Francisco based private equity investor Golden Gate Capital, is to acquire Hartford, Connecticut based life and annuity specialist Phoenix Companies.

San Francisco based private equity investor Golden Gate Capital has seed funded a new reinsurance company, Nassau Reinsurance, with up to $750m of start-up funding, further demonstrating the attraction to reinsurance as investment opportunity.

It’s not just hedge funds that are entering the insurance and reinsurance market in search of so-called long-term capital to put to work in their strategies, private equity firms targeting the space are also seeking opportunities to add assets under management.

Specialist financial services and re/insurance focused private equity investment firm Capital Z Partners Management LLC is buying into insurance and reinsurance broking and underwriting group BMS Associates.

The New York Department of Financial Services has proposed stronger oversight and the need for increased transparency for certain acquisitions of life insurance (or reinsurance) businesses, particularly where the acquirer is an investor, such as a private equity firm.

Global law firm Appleby, who with their teams in Bermuda and the Cayman Islands have a particular focus on legal services for reinsurance, catastrophe bonds, ILS and the convergence market, said in a recent update that it is seeing increasing levels of investment by hedge funds and private equity funds in insurance and reinsurance vehicles.