TORONTO, June 6 /CNW/ -- Man Group plc, a leading global alternative
investment management firm, today announced it has agreed to acquire a 25
percent interest in Nephila Capital Ltd.
Nephila Capital is a leading alternative investment manager specializing
in insurance-based instruments such as insurance linked securities,
catastrophe bonds, insurance swaps and weather derivatives. Through its
proprietary investment strategies, Nephila provides access to uncorrelated
sources of returns.
Established in 1998, Nephila is headquartered in Bermuda, employs 25
staff members and has approximately $2.4 billion under management. Combining
Nephila's experience with Man's depth of resources and market reach will
create significant value for both investors and shareholders.
This development is part of Man's strategy to broaden its offering of
alternative investment strategies and sources of uncorrelated returns offered
to institutional investors.
The minority stake in Nephila Capital will be part of Man ECO, a
multi-strategy private equity manager which seeks to capitalize on investment
opportunities arising from environmental strategies. Nephila's three managing
principals, Frank Majors and Greg Hagood, who are co-founders of the firm, and
Barney Schauble, will continue to manage the business and the underlying fund
The CEO of Man Group plc, Peter Clarke, said: "This transaction further
develops Man's strategy to expand the range of opportunities for our
investors. The natural catastrophe and weather derivative markets offer
significant opportunities for uncorrelated alternative investment returns. We
are excited at the prospects of this strategic partnership and what it means
for our and Nephila's investors."
Frank Majors said: "We are delighted to join Man in a partnership that
will open up international markets and allows us to focus on evaluating
investment opportunities and portfolio management."
About Man Group plc
Man is a world-leading alternative investment management business. With a
broad range of funds for institutional and private investors globally, it is
known for its performance, innovative product design and investor service. Man
manages over $78 billion(1) and employs 1,600 people in 13 countries
The original business was founded in 1783. Today, the parent company, Man
Group plc is listed on the London Stock Exchange and ranked in the top 40
companies of the FTSE 100 Index, with a market capitalization of about $20
Man supports many awards, charities and initiatives around the world,
including sponsorship of the Man Booker literary prizes and the Man Group
International Climate Change Award. Further information can be found at
About Man Environmental Capital Opportunities
Man Environmental Capital Opportunities (Man ECO) is a multi-strategy
private equity manager within Man Investments which seeks to capitalize on
investment opportunities arising from environmental concerns. It seeds and
manages funds specializing in environmental investment projects and other
areas where investment returns are driven by the natural environment. It began
operations in 2006 and was established as a single-manager of Man Investments
in 2008. Man ECO has funds under management of about $600 million(1).
About Nephila Capital Ltd.
Nephila Capital Ltd., a Bermuda-based hedge fund manager, was founded in
1998. The firm invests in a wide range of insurance-based instruments and
weather derivatives. Nephila is managed by a highly experienced team of
investment professionals and comprises 25 staff, all based in Bermuda. Nephila
is a thought leader and an active participant in the transformation of the
reinsurance industry. Further information can be found at
This material is distributed by Man Investments Inc. Man Investments Inc.
is a member of the Man Investments division of Man Group plc. "Man Group"
refers to the group of entities affiliated with Man Group plc.
This material is proprietary information of Man Investments and its
affiliates and may not be reproduced or otherwise disseminated in whole or in
part without prior written consent from Man Investments. Please be aware that
investment products involve investment risks, including the possible loss of
the principal amount invested. Furthermore, we recommend you to consult your
bank, investment and/or tax advisor. Man Investments and/or any of its
affiliates may have an investment in the described investment products.
Alternative investments can involve significant risks and the value of an
investment may go down as well as up.
(1) As of May 28, 2008
For further information:
For further information: Armel Leslie of Walek & Associates,
+1-212-590-0530, +1-914-320-7620 (cell), firstname.lastname@example.org, for Man Group plc
Web Site: http://www.mangroupplc.com