Organizers of the Omega Life Settlements Fund L.L.C. say they are looking for wealthy investors who want to buy existing life insurance policies.
Robert Hamzey, a San Diego-area real estate agent and investor, is developing the pool, according to BCAJ Investments West Inc., Rancho Santa Fe, Calif.
BCAJ, the initial investor in the pool, will not take a management fee for servicing the investment pool and instead will get returns based on the performance of the pool, according to BCAJ.
Investors who participate in the pool must be willing to keep their money in the fund for at least 3 years, BCAJ says.