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Private equity firms in CAN$500m capitalisation of Aurigen27/11/2007. Source: AltAssets. 
 Aurigen Re Capital has received CAN$500m in initial capitalisation from investors including EdgeStone Capital Partners, Englefield Capital, Pine Brook Road Partners and Soros Strategic Partners. This capital will support the start-up of Aurigen's life reinsurance business unit in Canada.
Aurigen will provide traditional life and health reinsurance solutions through its wholly-owned operating subsidiaries, Aurigen Reinsurance and, subject to regulatory approval, Aurigen Canada.
Alan Ryder, Aurigen's president and CEO, most recently served as president of General Electric Company's Canadian life reinsurance business, Employers Reassurance Canada.
Ryder said, 'We have observed a real market need for additional capacity and expert solutions that has resulted from the significant consolidation of the life reinsurance industry.'
The deal is the largest private equity raise to enable a company to compete in Canadian financial services, according to a statement.
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