The property beneath administration of the Icosa Investments disaster bond fund technique have already surpassed the $200 million stage, because the supervisor has seen continued success since its launch at first of 2024.
Icosa Investments, the Swiss disaster bond centered funding supervisor launched by co-founders the previous Twelve Capital govt Florian Steiger and Swiss monetary companies and capital markets specialist Jordan Nickerson, solely launched its business and its first catastrophe bond fund at the start of the year.
The Icosa Funding Umbrella Fund – CAT Bond Fund, a Liechtenstein primarily based fund and a UCITS technique, was launched with an preliminary seed funding of round $15 million.
As of April 2024, the Icosa cat bond fund had elevated its property beneath administration to round $45 million, then additional investor commitments got here by means of in Could and the fund reached $75 million of cat bond property beneath administration by the center of that month, earlier than then quickly reaching the milestone of $100 million in AUM before that month was over.
As we reported then, additional commitments had been anticipated, with some new subscriptions being processed and an expectation that the Icosa CAT Bond Fund would surpass $130 million in June.
Now, the corporate has revealed that it has doubled that, surpassing $200 million in cat bond property managed as of this week.
Icosa Investments said, “We’re proud to announce that the property beneath administration of our cat bond technique have now surpassed $200 million, due to the assist of our nice buyers and because of stable efficiency in latest weeks.
“As we method the height of the 2024 hurricane season, our capability to onboard new capital will possible stay restricted for just a few extra weeks. Nonetheless, we’re actively looking for to determine new partnerships with institutional buyers right now to place ourselves successfully for the upcoming This autumn main market season.”
CEO Florian Steiger additionally commented, “When beginning Icosa Investments AG earlier this 12 months, I may by no means have anticipated the unbelievable stage of belief and assist we’ve obtained from our buyers, companions, service suppliers, and colleagues.
“I’m deeply moved and profoundly grateful for the dedication every of them has proven in serving to us attain this milestone.”
Steiger added, “That mentioned, with the height of the hurricane season upon us, now could be definitely not the time to grow to be complacent. The approaching weeks will possible carry a major quantity of cyclone exercise within the Atlantic, and as a portfolio supervisor within the cat bond house, sustaining humility and vigilance is essential for guaranteeing long-term efficiency.
“At Icosa Investments, we stay totally dedicated to navigating these challenges with the identical diligence and care that introduced us right here. Our focus stays on delivering robust, sustainable returns whereas upholding the belief our buyers have positioned in us.”
Icosa Investments AG is listed in our directory of insurance-linked securities (ILS) fund managers.
