RenaissanceRe Holdings Ltd. announced today the launch of a new Irish domiciled property catastrophe bond fund, RenaissanceRe Medici UCITS Fund. This fund is designed to provide European and other global investors with access to RenaissanceRe’s catastrophe bond investment strategy through a dedicated European-regulated UCITS structure.
The Medici UCITS Fund launched with $340 million in total capital, comprising primarily existing partner capital, new partner capital, and a $140 million co-investment from RenaissanceRe. This new offering complements the company's existing RenaissanceRe Medici Fund Ltd., expanding its suite of capital partners solutions.
RenaissanceRe’s Capital Partners team will serve as the investment manager for the new fund, which is expected to generate fee income for the company. This initiative underscores RenaissanceRe's mission to match desirable risk with owned and partner capital, enhancing its global reach and diversification.
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