Twelve Capital’s management buy 30% stake back from Graubündner Kantonalbank

Twelve Capital, the Zurich-headquartered catastrophe bond, insurance-linked securities (ILS) and reinsurance linked investment fund manager, announced this morning that the firm’s management have bought a 30% equity stake in the business back from strategic partner Swiss cantonal bank, Graubündner Kantonalbank.

The bank has been a strategic equity holder in and partner to Twelve Capital for over two years now, having first bought into the company back in early 2022.

At the time, Twelve Capital said that the partnership would provide the investment firm with funding stability and a strong partner to support its continued development and growth.

The company also told us that Graubündner Kantonalbank (GKB) was known for supporting the growth and development of specialised Swiss financial services players while allowing them to maintain their operating independence, while also having an appetite to grow in asset management at the time.

At the time of the arrangement being announced in early 2022, Twelve Capital’s business had roughly $4 billion in assets under management, some $2.6 billion of which was allocated across catastrophe bonds and private insurance-linked securities (ILS).

Now, as of March 31st 2024, Twelve Capital is listed in our Insurance-Linked Securities Investment Managers & Funds Directory with $3.8 billion of assets allocated to cat bonds and other ILS, while firm-wide AUM is nearly $5 billion.

A lot has happened over the course of the more than two years that Graubündner Kantonalbank (GKB) has been an equity holder in Twelve Capital Holding AG.

The investment managers UCITS catastrophe bond strategy is now among the largest in the marketplace, while its team has expanded and new investors have allocated to its ILS funds.

The management of Twelve Capital decided to buy-back the 30% stake from GKB, after the two years of partnership with the bank.

Urs Ramseier, Executive Chairman of Twelve Capital commented, “We are very pleased to execute this transaction.

“The Twelve Capital team is excited by the prospects of the firm and fully committed to continue to deliver value to our clients.”