L.P. Management Ltd. has picked Life Partners Inc. to help it run a closed-end fund that will invest in life insurance policies.[@@]

L.P. Management, Nassau, Bermuda, will be marketing the fund, the Life Settlements Fund, to non-U.S. investors in Europe, the Middle East and the Caribbean, according to Life Partners, Waco, Texas, a publicly traded life settlement company.

Life Partners estimates the investment advisory deal will bring it about $6 million in new business during the quarter that ends Aug. 31.