Mortgage insurance meltdown generates opportunity

As the mortgage market began to hiccup in 2007, many investors ran away from the housing sector. At Pine Brook, however, we leveraged our expertise to identify market and capital dislocations for which our business-building investment approach was well-suited. So began our five-year effort to grow—from scratch—residential mortgage insurer Essent Group Ltd., which hit a milestone with its successful October 2013 IPO.