Northill Capital acquires majority interest in Securis Investment Partners
Northill Capital LLP has agreed to acquire a majority interest in Securis Investment Partners LLP, the London-based Insurance Linked Securities investment manager, buying out the interests of external partners Swiss re and Stone Point Capital.
Securis manages over $1bn of Insurance Linked Securities [ILS] across various Life and non-Life asset classes, a fast growing sector with low correlation to traditional asset classes. Northill believes its long-term approach and global management experience will help Securis achieve stable growth in target European and international markets.
Securis was established in London in April 2005 by Rob Procter and Espen Nordhus, both previously at Morgan Stanley within its insurance team. They have built a solid platform employing a diverse team that includes investment professionals with capital markets experience, actuarial knowledge and insurance/re-insurance expertise.
London-based Northill Capital, an independent, privately held asset management business, was established in November 2010 by Jon Little, former vice-chairman of BNY Mellon Asset Management, with substantial financial backing from trusts associated with the Bertarelli Family. The firm is intent on building a portfolio of high quality asset management businesses.
Securis’ investment strategy is to deliver capital appreciation and low volatility returns uncorrelated to traditional asset classes. Since inception, Securis’ flagship fund ‘Securis I’, has achieved excellent returns for investors. Investments are diversified by Life and non-Life asset classes, as well as by type of peril and by geography.
Jon Little and Rick Potter, partners at Northill, will join the Securis board. Rob Procter and Espen Nordhus remain as co-Managing Partners. Little said Securis has “an outstanding performance track record in an exciting growth sector of the market”.
“I have known the management team since the business was founded and we are very pleased to be entering into a long-term partnership. The ILS sector requires careful and skilled management of capacity growth in order to maintain performance, but is attracting considerable interest from investors seeking effective portfolio diversification and genuinely
uncorrelated returns. We believe that the combination of Northill and Securis will ensure that the business continues to grow whilst maintaining its strong investment performance.”
Rob Procter, Managing Partner at Securis Investment Partners, believes the market for investing in insurance-related risks is set to grow strongly as insurance carriers increasingly seek to outsource such risk to the capital markets to optimise their balance sheets.
The transaction has been approved by the UK’s Financial Services Authority.