A Florida specialty finance firm says it has raised $1 billion in financing for transactions involving life insurance policies and annuities.[@@]

The firm, Peachtree Settlement Funding L.L.C., Boca Raton, Fla., says it will be using its funding to buy life insurance policies and buy the streams of annuity income used to back some structured legal settlements. The firm also buys lottery receivables.

Peachtree plans to move into new offices in Boynton Beach, Fla., in 2006.