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Hedge Funds Find Reinsurance Isn't Always Reassuring

Hedge fund firms that set up reinsurers as a source of permanent capital are finding that when the performance of their main funds falters, so does the performance of the reinsurance vehicles tied to them.

       Hedge fund managers have been attracted to the offshore reinsurance business as a way to raise permanent capital since the 1990s, and investors have followed them, seeking access to otherwise closed funds. But the recent lackluster performance of some of these businesses raises questions about whether reinsurance is a viable

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