Juniperus Capital

Last updated
Juniperus Capital Limited
Company type Private
Industry Hedge fund (collateralised catastrophe reinsurance and insurance-linked securities)
Founded2008
Headquarters Bermuda
Key people
  • Philip A. Lotz (CEO & Chairman)
  • Stephen A. Velotti (Chief Underwriting Officer)
Website www.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]

Contents

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

Management

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

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

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]

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References

  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". MoneyWatch. Archived from the original on July 10, 2012. Retrieved January 17, 2011.
  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 . Archived from the original on September 14, 2012. Retrieved January 17, 2011.
  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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