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// Workers AI · dad joke modeWhat did Juniperus Capital say to its funds? "Branch out.

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From Wikipedia, the free encyclopedia
Juniperus Capital Limited
TypePrivate
IndustryHedge fund (collateralised catastrophe reinsurance and insurance-linked securities)
Founded2008
HeadquartersBermuda
Key people
  • Philip A. Lotz (CEO & Chairman)
  • Stephen A. Velotti (Chief Underwriting Officer)
Websitewww.juniperuscapital.com https://www.pillar-capital.com/

Juniperus Capital Limited (Juniperus Capital or JCL) is a Bermuda-based hedge fund. It was incorporated in Bermuda on April 11, 2008.[1][2][3] The investment management company became operational in May 2008.[4][5][6]

Juniperus Capital Limited is now known as Pillar Capital Management.[7]

Management

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The fund is managed by CEO and Chairman Philip A. Lotz (who was formerly the CEO of Swiss Re Capital Management and Advisory) and Chief Underwriting Officer, Stephen A. Velotti.[8][9][10]

Juniperus, now Pillar Capital Management, is jointly owned by the Management Team and Transatlantic Holdings, Inc.[11]

Fund

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Juniperus manages Juniperus Insurance Opportunity Fund. The fund focuses on the collateralised catastrophe reinsurance and insurance-linked securities markets.[4][12][13] Substantial investors in the fund include New York-based reinsurance and risk intermediary Benfield Group Ltd., Tokyo-based Itochu Corporation, Transatlantic Reinsurance Co., and Juniperus Capital management.[4][14][15]

Forbes and The Telegraph reported in 2008 that Benfield Group announced it had made a $50 million (£25.3m) cash investment in Juniperus Insurance Opportunity Fund.[14][16][17] The investment was reportedly made through Benfield Advisory, the group's corporate finance section.[4]

The company is named after the Juniperus bermudiana, cedar trees found only in Bermuda that are extremely hardy in the face of hurricanes and other adverse conditions.[18]

Ownership

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Benfield holds a significant ownership position in Juniperus Capital, having purchased $6.6 million of the shares of the company.[4][14][19] Benfield also committed to provide up to $2 million in working capital to Juniperus Capital.[14][19]

In December 2009, Itochu Corporation made a JPY 5 billion equity investment in Juniperus Capital.[15][20][21]

References

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  1. ↑ "Review of Companies Register – J Public Companies". Bermuda Government. Retrieved January 17, 2011.
  2. ↑ "Kathryn Bache, Christopher Lotz", The New York Times, November 29, 2008
  3. ↑ Matthias Knab (October 19, 2010). "Occasional successes of con artists haunt hedge fund industry". Opalesque. Retrieved January 17, 2011.
  4. 1 2 3 4 5 "Benfield backs investment fund", Colleen Mccarthy, Business Insurance, May 27, 2008, Retrieved January 17, 2010
  5. ↑ "Benfield Group Ld: Launch of Juniperus Capital L". The Motley Fool. May 27, 2008. Archived from the original on July 17, 2011. Retrieved January 17, 2011.
  6. ↑ Brodsky, Matt (April 1, 2010). "Cat out of the bag: whether cat bond investors are handed weaker risks was the topic of a debate in New York". Risk & Insurance. Vol. 21, no. 3.
  7. ↑ "Juniperus Capital Hires Chris McKeown as CEO". www.businesswire.com. 2012-05-14. Retrieved 2024-02-26.
  8. ↑ "Bios". Juniperus Capital. Archived from the original on March 17, 2012. Retrieved March 20, 2016.
  9. ↑ "Profiting from the Insurance Risk Market". Yahoo! Finance; Press Release. October 25, 2010. Retrieved January 17, 2011.
  10. ↑ "Velotti named Juniperus CUO". Trading Risk. June 18, 2009. Retrieved January 17, 2011.
  11. ↑ "TransRe and Management of Pillar Capital Increase Ownership Stake in Pillar to 50% Each | Pillar Capital Management Limited". www.pillar-capital.com. 2014-06-24. Retrieved 2024-02-26.
  12. ↑ "Cash back with new Benfield fund and reinsurer". The Insurance Insider. May 30, 2008. Retrieved January 17, 2011.
  13. ↑ "Providing a choice; Philip Lotz, ceo and chairman of Juniperus Capital, answers STORM's questions". Catastrophe. October 2, 2009. Retrieved January 17, 2011.
  14. 1 2 3 4 "Benfield invests $50 mln in Juniperus Capital Fund". Forbes. May 27, 2008. Retrieved January 17, 2011.[dead link]
  15. 1 2 "Juniperus bags $40mn from Japanese equity partner". Trading Risk. Retrieved January 17, 2011.
  16. ↑ David Ltterick (June 1, 2008). "Get an investment top-up from the growing world of Vodafone". The Daily Telegraph. Retrieved January 17, 2011.
  17. ↑ Anthony Hilton (May 29, 2008). "Investment banks' big question". London Evening Standard. Retrieved January 17, 2011.{{cite news}}: CS1 maint: deprecated archival service (link)
  18. ↑ "Origin of the Juniperus Name". Juniperus Capital. Archived from the original on November 9, 2010. Retrieved March 20, 2016.
  19. 1 2 "Benfield Group invests US$50 mln in Juniperus Insurance Opportunity Fund". RTT News. May 27, 2008. Archived from the original on January 1, 2011. Retrieved January 17, 2011.
  20. ↑ "ITOCHU Launches Reinsurance Business". ITOCHU Corporation. December 22, 2009. Archived from the original on July 17, 2011. Retrieved January 17, 2011.
  21. ↑ "ITOCHU Corporation; Key Developments". Reuters. Retrieved January 17, 2011.
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