Man acquires 25% of Nephila Capital


Man Group has acquired a 25% stake in Nephila Capital, a Bermuda-based alternative asset management firm with $2.4 billion under management.

Founded in 1998, Nephila specializes in trading insurance-based investments, such as catastrophe bonds, insurance swaps and weather derivatives.

Man Group’s minority stake is held as part of Man ECO, the firm’s multistrategy private equity manager. Nephila will continue to be run by its three managing principals, Frank Majors and Greg Hagood, who are co-founders, and Barney Schauble.—JF