Icosa Investments cat bond assets under management surpass $100m

Having only launched its business at the beginning of this year, Icosa Investments, the Swiss catastrophe bond focused investment manager launched by co-founders the former Twelve Capital executive Florian Steiger and Swiss financial services and capital markets specialist Jordan Nickerson, has already surpassed $100 million in assets.

Icosa Investments launched its business and its first catastrophe bond fund at the start of the year.

Named the Icosa Investment Umbrella Fund – CAT Bond Fund, a Liechtenstein fund and a UCITS strategy, it was launched with an initial seed funding of around $15 million, we understand.

By April this year, Icosa Investments had lifted its catastrophe bond assets under management to around $45 million.

Then new investor commitments came through into May and the fund was reported to have $75 million of cat bond assets under management by the middle of that month.

Fast-forward just another week or so and Icosa has now surpassed $100 million in AUM, with more commitments pledged as well, Artemis understands.

With a number of new subscriptions to the cat bond fund still being processed, we understand Icosa will near $130 million in assets over the coming weeks.

Florian Steiger, CEO of Icosa Investments said, “We are thrilled to announce that the Icosa Cat Bond Strategy has surpassed $100M in AuM!

“A huge thank you to our incredible investors for their continued trust and feedback, which helps us to evolve and improve. We look forward to growing this business together with our clients and partners in the coming years.

“A heartfelt thank you to everyone for making this success possible so quickly.  We deeply appreciate the trust placed in us by our investors and look forward to building lasting, long-term relationships built on strong investment performance, transparency and open communication.”

Speaking with Artemis, Steiger explained that the market opportunity seen in 2024 made this an opportune time to launch a catastrophe bond investment manager.

“We couldn’t have wished for a better time to build a fresh cat bond portfolio, given the numerous opportunities we are currently seeing in both primary and secondary markets,” Steiger told us.

Adding, “Spread levels have recently increased significantly and with plenty of supply also in secondary markets, we are confident to build a robust portfolio for our investors.”