Pine River Said to Seek Up To $750 Million for Reinsurer
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Pine River Capital Management LP, the $14.3 billion hedge-fund firm founded by Brian Taylor, is raising capital for a reinsurance company in the latest push by a money manager into the industry.
The firm is seeking to raise $500 million to $750 million for the reinsurer, which will be named Pine River Re and based in Bermuda, said a person familiar with the matter who asked for anonymity because the matter is private. The business will be led by Bill Jewett, a former president of insurer Endurance Specialty Holdings Ltd., the person said.