Tranen Plans Longer-Term Life Settlements Fund

Jun 23 2010 | 10:34am ET

Tranen Capital is readying its second life settlements hedge fund, planning a longevity fund to complement its existing contestables flagship.

The Tranen Capital Life Fund will invest in life insurance policies held for, on average, five to six years. The firm’s current US$80 million Alternative Investments Fund focuses on contestables, or policies held for two years or less. It is up 7.4% this year and returned 39.5% last year.

The new fund will be managed by Tranen founders Arthur Bowen and Kenneth Landgaard.

“Demand for longevity risk has increased globally and Tranen launched this fund to respond to this risk,” Bowen told HFMWeek.

The new fund is actually set to debut within the next few months. Tranen is also responding to investor demand by registering with Irish regulators in advance of proposed new European Union hedge fund regulation.

The Life fund will charge 2% for management and 20% for performance. It has a capacity of US$1 billion and a minimum investment requirement of €250,000, with a soft lock-up.

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