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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]
| Company type | Private |
|---|---|
| Industry | Hedge fund (collateralised catastrophe reinsurance and insurance-linked securities) |
| Founded | 2008 |
| Headquarters | Bermuda |
Key people |
|
| Website | www |
Juniperus Capital Limited is now known as Pillar Capital Management.[7]
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]
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]
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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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