Calidris Investment Partners, a Bermuda-based investment manager specialising in the insurance sector, has announced its market entry with the successful completion of its inaugural insurance sidecar transaction and the expansion of its senior leadership team.
The firm, which is backed by Redbird Capital Partners, served as lead investor in the launch of George Street Re, a casualty reinsurance sidecar sponsored by global insurer QBE Re.
The transaction, valued at over $550 million, provides Calidris’ investors with a strategic entry point into QBE Re’s global casualty reinsurance portfolio.
The completion of this insurance sidecar transaction represents a significant milestone for Calidris, which was founded in early 2025 by Daniel Miller and Philippe Trahan.
It underscores its execution capabilities and advances the firm’s mission to deliver differentiated access to lower volatility P&C insurance risks for institutional investors, the firm stated.
“Our entry into the market reflects a strong operational foundation and the confidence of high-quality institutional partners,” said Daniel Miller, Co-Founder and Co-CEO of Calidris. “With our first transaction successfully completed, we are focused on building on our momentum by structuring attractive, diversified and scalable partnerships that meet the needs of our investors and insurance counterparties.”
To support the continued growth of Calidris’ platform and rollout of strategic initiatives, the firm has also announced several key leadership hires.
Marcus Foley, a 20 year industry veteran, was appointed Director of Quantitative Strategies. He has previously held C-suite positions for Aspen, Argo and Somers Re groups primarily focused on Risk and Capital Management, Balance Sheet Optimization and M&A.
He will oversee the development and execution of a quantitative strategy roadmap for Calidris, aligning the analytic framework with firm-level growth, return and risk objectives.
Natasha Osborne joins Calidris as Director of Finance and Operations. She brings nearly 15 years of experience, most recently at Hiscox Re & ILS where she focused on third-party capital operations and financial reporting.
Osborne has been tasked with driving operational excellence and financial oversight as the firm grows.
Additionally, Calidris also appointed Andrew Brooks, former CEO of Ascot Group and Deputy Chair and Council member of Lloyd’s, as a Non-Executive Director to its Board.
This move aims to bolster the firm’s governance and executive leadership team with diversified industry expertise and market insight to advance the firm’s long-term strategy.
Philippe Trahan, Co-Founder and Co-CEO of Calidris, said, “We are building a differentiated investment platform centered on alignment and long-term partnerships. The depth of expertise we have added to our leadership team and Board complements our disciplined approach, bringing the skills and insight necessary to support and accelerate the growth of our business.”
“Daniel and Philippe bring an impressive track record as insurance investors and demonstrated structuring experts, creating a strong foundation for Calidris’ business model,” added Robert Klein, President of RedBird Capital Partners. “Now in market with a deal successfully completed, high-caliber leadership team in place and strong investor relationships, Calidris is well positioned to capitalize on growing interest in the P&C (re)insurance space.”
