January 5, 2007
On January 4, Aeolus Ltd. announced that its parent holding company, Aeolus L.P., has increased its capital base to over $1 billion via an investment from a group of investors led by Warburg Pincus and Merrill Lynch Global Private Equity. The company's founders also participated in the capital infusion. Aeolus Ltd., through its wholly-owned subsidiary, Aeolus Re Ltd., operates as an unrated reinsurance platform initially targeting the property catastrophe segment of the worldwide reinsurance market. Since its inception in July 2006, Aeolus Re has been an active provider of fully collateralized property catastrophe protection to insurers and reinsurers on both an ultimate net loss and industry loss warranty basis. Last July, Willkie represented Warburg as lead investor in connection with the formation and $500 million capitalization of Aeolus Ltd. and Aeolus Re Ltd. The current transaction was handled by partners William Gump, Henry Cohn and Christopher Peters, and associate Russell Leaf.
