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Hedge fund Elliott Management acquires controlling interest in $3bn Bermudian asset manager

Friday, January 06, 2017

Komfie Manalo, Opalesque Asia:

Hedge fund manager Elliott Management Corporation has announced the completion of its transaction to acquire a controlling stake at Aeolus Capital Management Ltd., and its affiliated entities. Elliott Management manages two hedge funds, Elliott Associates, L.P. and Elliott International, L.P.

Elliott acquired its controlling interest from Peter Appel, founder of Aeolus, and Allied World Assurance Company, an investor in Aeolus since December 2012. Mr. Appel has retained a significant minority interest in Aeolus and will serve as its Non-Executive Chairman.

Allied World has also retained a minority interest and will continue to be a substantial capital provider to the investor vehicles managed by Aeolus. The Aeolus management team, led by Andrew Bernstein, Chris Grasso, Trevor Jones and Frank Fischer, will continue in their current roles and retain their entire equity ownership interest in the business.

Aeolus Capital manages capital on behalf of investors seeking the superior risk adjusted returns and diversification benefits available from investing in the property catastrophe reinsurance and retrocession market. Aeolus is based in Bermuda, a global reinsurance market, and its capital providers include some of the most sophisticated investors in the world. Aeolus currently has approximately $3 billion of......................

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