Man Group to buy 25% stake in Bermuda's Nephila capital
Hedge fund giant Man Group has announced that it has entered into an agreement to acquire a 25 per cent interest in Bermuda-based Cat underwriter/investor Nephila Capital for $50m in cash.
Nephila underwrites natural catastrophe (re)insurance and invests in insurance-linked securities and weather derivatives.
Established in 1998 Nephila has approximately $2.4 billion in funds under
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