Alterra Capital Holdings Launches $210M Sidecar
Bermuda-based Alterra Capital Holdings Limited announced the formation of New Point V Limited, an addition to its series of sidecar vehicles that has been established to create additional capacity for the property catastrophe collateralized reinsurance marketplace.
New Point V is again being sponsored by Alterra in partnership with Stone Point Capital LLC through its private equity fund, Trident V, L.P. and its affiliates. New Point V currently has capital commitments from its sponsors and additional investors of approximately $210 million.
Marty Becker, President and Chief Executive Officer of Alterra stated: “We are pleased to continue our support of the collateralized retrocessional market with New Point V and are glad to be partnering again with industry experts like Stone Point. With New Point V, we believe we remain well positioned to serve our clients’ needs as they seek property catastrophe reinsurance.”
