An offshore investment management company has announced the launch of a life settlement fund in Luxembourg.

Fortress International Fund, British Virgin Islands, has launched the Luxembourg Fortress International Capital & Partners SCS Fund, an open-end investment vehicle that participates in the U.S. secondary market for life insurance using a “managed buy-and-hold strategy.”

Luxembourg provides a “tax-efficient” site for investing in longevity-based assets, Fortress says. Investors in the fund can invest in U.S.-based life settlements while avoiding withholding taxes, the company says.