阿克曼豪掷21亿美元收购保险公司，打造“现代伯克希尔”

Group 1 - Bill Ackman's Howard Hughes is set to acquire Bermuda-based insurance company Vantage Risk for $2.1 billion, aiming to create a "modern-day Berkshire Hathaway" [1] - The acquisition will be financed through a combination of cash and up to $1 billion in stock investment from Ackman's hedge fund, Pershing Square, which is the largest shareholder of Howard Hughes [1] - Ackman plans to transform Howard Hughes from a real estate company into a diversified holding company, similar to Warren Buffett's Berkshire Hathaway, by acquiring controlling stakes in operating companies [1] Group 2 - The acquisition of Vantage Risk marks a milestone in Howard Hughes' transition to a diversified holding company, with Pershing Square managing Vantage Risk's assets [2] - Berkshire Hathaway pioneered the use of "float" from insurance premiums as a low-cost funding source for diversified investments, a strategy that is becoming increasingly competitive as activist investors and private equity firms enter the space [2] - Since 2020, private equity giants like Apollo Global and KKR have fully acquired life insurance subsidiaries to leverage premiums for funding large investment projects [2] Group 3 - Some private equity firms favor the life insurance sector due to its long liability duration, which aligns well with less liquid private investment projects [3] - Vantage Risk specializes in property and casualty insurance, focusing on underwriting specific risks such as litigation, political violence, and cyber risks [3]