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Pentelia Capital Management launches Pentelia Diamond Capital Management

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Pentelia Capital Management, a manager of insurance-linked assets, and Diamond Financial Solutions, a subsidiary of Mitsubishi Corporation, have created a new insurance and investment m

Pentelia Capital Management, a manager of insurance-linked assets, and Diamond Financial Solutions, a subsidiary of Mitsubishi Corporation, have created a new insurance and investment manager, Pentelia Diamond Capital Management.

They have also launched Eolia Diamond, with a total capital commitment of approximately USD132m.

Eolia Diamond is an alternative investment fund designed to participate in a broad array of insurance-linked assets such as catastrophe bonds, natural catastrophe property reinsurance, mortality assets, terrorism and aviation reinsurance. It blends traditional (re)insurance approaches with emerging capital market approaches.

Mitsubishi Corporation Capital, a specialist of securities investment, acted as exclusive placing agent for Eolia Diamond in Japan, whilst Natixis acted as exclusive placing agent for Eolia Diamond for the rest of the world.

A Pentelia Capital Management spokesperson says: ‘The launch of Eolia Diamond is a key step in the development of our marketing mix. We are extremely pleased to enter into this new business venture with our partner Mitsubishi Corporation. Their access to the Japanese market will allow us to seize great opportunities in this geographical area.’

A Diamond Financial Solutions spokesman says: ‘We will make a full-scale entry into the growing insurance-linked assets business with our strong partnership with Pentelia Capital Management. We understand this innovative joint-venture for insurance-linked assets business is a first for Japanese companies. As insurance-linked assets have a low correlation with the other traditional financial assets such as stocks, corporate bonds and FX, certain investors looking for further diversification will focus their attention on these types of assets during capital market turmoil.’

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