Bermuda-based Validus Holdings Ltd. has raised $150 million through a private sale of junior subordinated deferrable interest debentures as part of a pooled transaction.

Validus started up its reinsurance operations in Bermuda in December 2005 with over $1 billion of capital from institutional investors.

Its founding investor and sponsor is Aquiline Capital Partners LLC, a private equity firm headed by Jeffrey W. Greenberg.

Ed Noonan, chairman and chief executive of Validus, said: ?The issuance of hybrid securities is a very cost competitive source of long term capital for Validus.

In conjunction with our previously-announced syndicated credit agreement and over $1.0 billion in equity capital raised at our formation, we have substantial capital resources at our disposal to execute our business plan and to respond to market conditions as they evolve.?