A new portfolio manager has been hired by Bermuda based Validus Managers to look after their reinsurance, retrocessional and insurance-linked securities AlphaCat funds, according to this article in the Royal Gazette. Validus Managers look after over $400m of investment inflows in a number of vehicles which invest in private reinsurance, retro and catastrophe bonds.
The new hire is Paschal Brooks, who has previously been a VP in structured finance at Goldman Sachs. Brooks joins Validus Managers as an executive vice-president and portfolio manager for the AlphaCat Fund and AlphaCat High Return Fund.
Validus also operate a sidecar which launched earlier this year, AlphaCat Re 2011 Ltd. and have always said that they have a commitment to expand into capital market activities through insurance-linked securities and seek to offer superior long-term returns through their AlphaCat funds.