Alphacat Capital Inc.

AlphaCat Capital Inc., established in August 2015, specializes in providing investment advisory services in risk-linked instruments related to property catastrophe insurance and reinsurance. Acting as a non-discretionary sub-adviser to clients and funds managed by its affiliate, AlphaCat Managers, the firm offers services exclusively to qualified institutional and high net worth clients. The firm, wholly owned by Validus Specialty LLC, focuses on investments in catastrophe bonds, industry loss warranties, event-linked securities, and shares of special purpose reinsurers. AlphaCat Capital does not tailor its services to individual needs but tailors them to meet the investment mandates of clients and funds. The firm provides sub-advisory services for various funds and separately managed accounts, with approximately $3.4 billion in Regulatory Assets Under Management as of January 1, 2023. Fees are based on actual operating expenses plus a 7.5% markup, with management fees ranging from 0.25% to 1.5% per annum and performance fees varying from 0% to 20%. The firm does not participate in wrap fee programs and does not charge client fees in advance. Clients should refer to the Fund Offering Documents for a complete understanding of fees and expenses. AlphaCat Capital does not have discretionary authority over client accounts, but its affiliate, AlphaCat Managers, has discretionary authority to select and identify investments for clients and funds. The firm has not been involved in any legal or disciplinary events in the past 10 years.