ILS manager has $400mn on call for energy launch
Leading ILS fund manager Credit Suisse Asset Management (CSAM) has secured $400mn of contingent capital for a new energy-focused (re)insurance vehicle that will launch if the market hardens.
As previously reported by sister publication Trading Risk, CSAM was hoping to launch the fund, which will offer collateralised cover, this year to benefit from a much-hyped hard energy market following the Deepwater Horizon catastrophe in April.
CSAM raised capital from a combination of existing investors in its funds and new institutional...
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