Vida Capital Inc., a life settlement company, has acquired the assets of another life settlement company, Avmont LLC.
Vida is based in Austin, Texas. It operates as a life settlement provider, a manager of life settlement funds, and a manager of insurance-linked securities funds. It’s managing $4.4 billion in assets
Two private equity firms, Reverence Capital Partners and RedBird Capital Partners, have large stakes in Vida.
Avmont is a life settlement asset manager that started up in 2010 and is associated with people who have been in the life settlement market since 1989. It’s known for its underwriting program and its mortality tables. In the past, it had its principal offices in Atlanta. Its website shows that the company now has offices in New York and Dallas.
RedBird has a large stake in Avmont.
Vida and Avmont are not saying how much Vida paid for Avmont’s assets, but the companies said some top Avmont executives will be going to work for Vida.