(Bloomberg) American International Group Inc. will expand its relationships with alternative-asset managers after it completes a $5.56 billion deal to buy Validus Holdings Ltd., Chief Executive Officer Brian Duperreault said.Validus’s AlphaCat unit, which oversees $3.4 billion, works with pensions, hedge funds and other investors to gain exposure to reinsurance assets, helping them bet on markets not closely correlated to financial securities such as stocks and bonds. Reinsurers provide backstop coverage for primary insurers. “Validus has been very, very good at matching risk with capital,” Duperreault said Monday in a telephone interview.
AIG to Expand Pension, Hedge Fund Ties After $5.56 Billion Deal
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