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February 22, 2024
PI Global Investments
Hedge Funds

Hedge Funds Rake in Record Profits Betting on ‘Catastrophe’ Risk

For hedge funds, the science of catastrophes helped generate the best returns of any alternative investment strategy last year.

The calculus around natural disasters such as hurricanes and cyclones fed record gains at funds managed by firms including Tenax Capital, Tangency Capital and Fermat Capital Management. All three delivered results that were more than double an industry benchmark, according to public filings, external estimates and people familiar with the funds’ numbers.

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