The Fortress International Capital & Partners SCS fund is due to offer its first share price on 1 June and will be targeting returns of between 8% and 10% per annum.
Managed by Peter Dodd and advised on by investment adviser Jose Garcia of Carlisle Investment Company, it will seek to achieve long-term capital appreciation by investing in a diversified portfolio of life settlement assets based on United States life insurance policies.
“Fortress International has a long and distinguished history of investing in high-quality life settlement assets, this is an opportunity for clients to capitalize on an emerging asset class and diversify their portfolio with non-correlated investments,” said Dodd.
“With life settlement assets at historically low acquisition costs, investments in this asset class over a medium to long term timeline will provide our clients with an expanded access to this asset class.”
Fortress said Luxembourg is recognised as the premiere domicile for life settlement funds, due to its tax-advantaged status and investor rights-friendly regulations, as well as cutting edge fiduciary operations and a stringent regulatory environment.
Jose Garcia CEO of Carlisle Management Company said: “Launching a new fund in Luxembourg, Europe’s premier fund domicile, is a very strategic move for Fortress, whose investors will benefit from a transparent and efficient structure and also give Fortress a competitive edge.”