aquiline capital partners announces strategic partnership with tourmalet advisors

NEW YORK, NY and FAIRFIELD, CT - August 26, 2013

Aquiline Capital Partners ("Aquiline"), a New York-based private equity firm investing in financial services, today announced it has made an investment, through affiliates, in Tourmalet Advisors, L.P. ("Tourmalet"), an alternative investment manager based in Fairfield, CT.
Tourmalet, led by Chief Executive Officer Michael Corasaniti, was founded in October 2009 and has a track record of managing, investing, structuring and trading distressed residential mortgage assets. The firm's objective is to generate superior risk adjusted returns through the purchase, servicing and liquidation of distressed whole loans.

"We have known Mike Corasaniti and his team at Tourmalet for a number of years and have been impressed with their expertise and approach to investing in the residential mortgage market,"

said Jeff Greenberg,
Chief Executive of Aquiline.

"Given Tourmalet's track record, capabilities, and the opportunities we see in the market, we believe that this is the right time to make this investment. We look forward to working with Mike and his team."

"Aquiline Capital Partners' significant experience across a range of financial services as well as in-depth knowledge of our operations will help to inform and support our efforts,"

commented Mr. Corasaniti.

"We are enthusiastic about this partnership as it will enable us to expand our platform and accelerate our ability to capture opportunities created by the large and changing market in U.S. residential mortgages."

With $1.0 trillion in non-performing U.S. residential home loans on the balance sheets of domestic commercial banks and government-sponsored enterprises (GSEs), combined with easing regulatory restrictions allowing more rapid resolution for borrowers, there is an immediate opportunity to help this underserviced market. Tourmalet concentrates its investments on specific loans and geographies, which allows it to invest heavily in delinquent loans to drive attractive returns.

About Tourmalet Advisors, L.P.

Tourmalet Advisors, L.P. ("Tourmalet") is an SEC registered alternative investment manager founded by Michael Corasaniti, Carlos Rodrigues, and Jeremy Joyce with a five year track record in managing, investing, structuring and trading distressed residential mortgage assets. The firm's objective is to generate outsized returns through the purchase, servicing and liquidation of whole loans. Loans are serviced by two specialty servicers that are owned by affiliates of the firm, dedicated to servicing non-performing residential mortgage loans ("NPLs") and REOs.

About Aquiline Capital Partners LLC

Aquiline is a private equity firm based in New York investing in financial services enterprises in industries such as property and casualty insurance, banking, securities, asset management, life insurance and financial technology. Aquiline seeks to add value to its portfolio companies through strategic, operational and financial guidance.