An organizer of offshore, closed-end life settlement investment funds has found all of the investors it needs for its first fund and now is preparing to start a second fund, according to Life Partners Holdings Inc.[@@]
Life Partners, Waco, Texas, a publicly traded life settlement company, is supplying the fund organizer, the Life Settlements Fund Ltd., Nassau, Bahamas, with life insurance policies purchased “on the secondary market.”
Life Partners and other companies are trying to follow the example set by the secondary market for bonds by creating a secondary market, or resale market, for in-force life insurance policies.