New Fund Provides Life Settlement Fund Financing
Posted March 09, 2010 12:44PM PST

Two European firms have launched a fund in Luxembourg that will provide mezzanine financing to life settlement funds.

Fund-raising for the Lux Life Opportunity Fund is going on now and will close at the end of April, said Milhail Belostennyj, manager of Luxembourg-based financing firm Lux Kapitalmarkt Management AG, in an email. Lux Kapitalmarkt developed the fund of funds in partnership with Life Bond Management Gmbh, a German firm specializing in the life insurance secondary market.

Lux Life is open to institutional, professional, and "well-informed," accredited investors outside the U.S., according to a fund term sheet. The minimum investment amount for private investors is €125,000 ($170,000). The fund has a four-year investment horizon with a targeted yield of 8%. It is an open-ended fund with a one-year lock-up period.

The fund was registered with Luxembourg's Commission de Surveillance du Secteur Financier in September.

Source: Fund Term Sheet


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