The Board of Blue Capital Global Reinsurance Fund Limited (BCGR) announced it intends to proceed with a second placing of new shares in the company.This is in the absence of unforeseen circumstances, and pursuant to the placing programme announced on April 17 (the second placing.)A Bermuda Stock Exchange press release stated the net proceeds raised pursuant to the second placing are expected to be invested in fully collateralised reinsurance-linked contracts and other investments carrying exposures to insured catastrophe event risks in accordance with the company’s investment policy. It is anticipated that the second placing will close in October.BCGR listed on the London Stock Exchange’s Specialist Fund Market and the Bermuda Stock Exchange on December 6, 2012 raising $100.1 million. The company subsequently raised $52.3 million pursuant to the first closing under the placing programme in May 2013. The company provides investors with the opportunity to access the global catastrophe reinsurance market and to invest in an alternative asset class whose returns have historically been largely uncorrelated to those of other asset classes, including global equities, bonds and hedge funds.The company is targeting an annualised dividend yield of LIBOR plus six percent per annum on the issue price of the ordinary shares and a net return to shareholders of LIBOR plus ten percent per annum to be achieved over the longer term, net of fees.A further announcement giving full details of the second placing will be made in due course.Blue Capital Management Ltd (Blue Capital), which serves as the investment manager for both the company and Blue Water Master Fund Ltd, through a variety of different products, provides institutional and retail investors with the opportunity to access the global catastrophe reinsurance market.Blue Capital is wholly owned by Montpelier Re Holdings Ltd.