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Alternative Market Briefing

French fund manager Scor Investment Partners buys London hedge fund firm Coriolis Capital

Friday, May 24, 2019

Laxman Pai, Opalesque Asia:

SCOR Investment Partners has signed an agreement to acquire 100% of the capital of UK based fund manager Coriolis Capital to expand Insurance-Linked Securities (ILS) unit.

With this first acquisition, SCOR Investment Partners is entering an important new phase in its development and expanding its capacity on the ILS market, reaching an aggregate sum of $2.1bn of assets under management and operating in both Paris and London.

SCOR Investment Partners is French reinsurer SCOR group's portfolio management company. Coriolis Capital is a pioneering fund manager in the Insurance-Linked Securities (ILS) field, investing in catastrophe bonds, collateralized reinsurance and climate derivatives.

Subject to regulatory approval, Coriolis Capital will become a fully owned subsidiary of SCOR Investment Partners, with the transaction due to be finalized in the second half of 2019.

The SCOR group is a longstanding player in the field of alternative reinsurance, having been present on the market for 19 years as both an issuer through SCOR Global P&C, with the first Atlas catastrophe bond issued in 2000, and as an asset manager since 2011 through SCOR Investment Partners.

SCOR Investment Partners is a recognized player in the ILS field, having started to invest in this asset class in 2011 with the launch of the Atropos investment fund.

SCOR Investment Partners builds for its clients diversified ILS portfolios exposed exclusively to natu......................

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