Juniperus Capital Limited (Juniperus Capital or JCL) is a

Bermuda Bermuda is a British Overseas Territories, British Overseas Territory in the Atlantic Ocean, North Atlantic Ocean. The closest land outside the territory is in the American state of North Carolina, about to the west-northwest. Bermuda is an ...

-based

hedge fund A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and ...

. It was incorporated in Bermuda on April 11, 2008. The investment management company became operational in May 2008."Benfield backs investment fund"
Colleen Mccarthy, ''Business Insurance'', May 27, 2008, Retrieved January 17, 2010 Juniperus Capital Limited is now known as Pillar Capital Management.

Management

The fund is managed by

CEO A chief executive officer (CEO), also known as a chief executive or managing director, is the top-ranking corporate officer charged with the management of an organization, usually a company or a nonprofit organization. CEOs find roles in variou ...

and Chairman Philip A. Lotz (who was formerly the CEO of

Swiss Re Swiss Re Ltd is a Swiss reinsurance company founded in 1863 and headquartered in Zürich, Switzerland. It is one of the world's largest reinsurers, as measured by gross premiums written. Swiss Re operates through around 80 offices in 29 countri ...

Capital Management and Advisory) and Chief Underwriting Officer, Stephen A. Velotti. Juniperus, now Pillar Capital Management, is jointly owned by the Management Team and Transatlantic Holdings, Inc.

Fund

Juniperus manages Juniperus Insurance Opportunity Fund. The fund focuses on the collateralised catastrophe reinsurance and insurance-linked securities markets. Substantial investors in the fund include New York-based

reinsurance Reinsurance is insurance that an insurance company purchases from another insurance company to insulate itself (at least in part) from the risk of a major claims event. With reinsurance, the company passes on ("cedes") some part of its own insu ...

and

risk In simple terms, risk is the possibility of something bad happening. Risk involves uncertainty about the effects/implications of an activity with respect to something that humans value (such as health, well-being, wealth, property or the environ ...

intermediary

Benfield Group Benfield Group was a leading independent reinsurance and risk intermediary. Customers included most of the world's major insurance and reinsurance companies as well as government entities and global corporations. A former constituent of the FTSE ...

Ltd., Tokyo-based

Itochu is a Japanese corporation based in Umeda, Kita-ku, Osaka and Aoyama, Minato, Tokyo, Aoyama, Minato, Tokyo. It is one of the largest Japanese ''sogo shosha'' (general trading and investment companies) distinguished by the strength of its textil ...

Corporation, Transatlantic Reinsurance Co., and Juniperus Capital management. ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' and ''

The Telegraph ''The Telegraph'', ''Daily Telegraph'', ''Sunday Telegraph'' and other variant names are often names for newspapers. Newspapers with these titles include: Australia * The Telegraph (Adelaide), ''The Telegraph'' (Adelaide), a newspaper in Adelaid ...

'' reported in 2008 that Benfield Group announced it had made a $50 million (£25.3m) cash investment in Juniperus Insurance Opportunity Fund. The investment was reportedly made through Benfield Advisory, the group's corporate finance section. The company is named after the ''

Juniperus bermudiana ''Juniperus bermudiana'' is a species of juniper endemic to Bermuda. This species is most commonly known as Bermuda cedar, but is also referred to as Bermuda juniper ( Bermudians refer to it simply as ''cedar''). Historically, this tree formed w ...

'', cedar trees found only in Bermuda that are extremely hardy in the face of hurricanes and other adverse conditions.

Ownership

Benfield holds a significant ownership position in Juniperus Capital, having purchased $6.6 million of the shares of the company. Benfield also committed to provide up to $2 million in

working capital Working capital (WC) is a financial metric which represents operating liquidity available to a business, organisation, or other entity, including governmental entities. Along with fixed assets such as plant and equipment, working capital is consi ...

to Juniperus Capital. In December 2009, Itochu Corporation made a JPY 5 billion equity investment in Juniperus Capital.

References

{{Reflist, 2

External links

Juniperus Capital homepage
Financial services companies established in 2008 Hedge fund firms Investment management companies of Bermuda Itochu