Organizers of an investment fund have chosen a unit of Life Partners Holdings Inc. to serve as the investment advisor for a closed-end life settlements fund.

The Life Partners Investment Fund Ltd. will be registered in St. Vincent and managed by Life Partners Management Ltd. through a representative office in Liechtenstein, according to Life Partners, Waco, Texas.

Life Partners is not an owner or manager of the fund, the company says.

The fund will be available to wealthy, non-U.S. individual investors and to non-U.S. institutional investors.