Bermuda-based hedge fund-backed reinsurance company Third Point Re has filed to raise $250 million in an initial public offering of its common stock.
Reuters reported that the reinsurer, affiliated with Daniel Loeb’s hedge fund Third Point, did not reveal how many shares the company plans to sell or their expected price.
J.P. Morgan, Credit Suisse, Morgan Stanley, BofA Merrill Lynch and Citigroup were the underwriters for the IPO.
Launched last year with $750 million in capital, Third Point Re is run by John Berger, the former CEO of Alterra Capital Holding’s reinsurance company. New York-based Third Point Capital has about $11.6 billion in assets.