Investment firm increases stake in Argus

Investment manager Equilibria Capital Management has further increased its stake in Bermuda domestic insurer Argus Group to more than a quarter of the company’s outstanding shares.

In a filing with the Bermuda Stock Exchange, Argus said Equilibria now holds 27.2% of its shares, up from 23.9% in July.

Bermuda-based Equilibria, whose founder, Daniel Tafur (pictured), is also behind the redevelopment of the Riddells Bay Golf Course in Southampton, held a 17.12% stake in Argus in June, 2021.

Garrett Curran, Equilibria’s managing director in Madrid, holds a seat on the Argus board.

Argus is engaged in a battle with domestic rival BF&M to secure a 36.9% stake in that company. BF&M has implemented a so-called poison pill defence in an apparent bid to fend off the $100 million bid.