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Vida Capital Acquires Avmont to Enhance Capabilities in Life Settlements Platform
Monday 06 July 2020

Texas, US-based investment management firm Vida Capital, Inc. has partnered with Vida's private equity sponsors, Reverence Capital Partners and RedBird Capital Partners, to acquire the assets of asset manager and advisor Avmont, LLC, to strengthen leadership position in life settlements space, the company said.

Financial terms of the transaction were not disclosed.

Avmont was previously a RedBird Capital Partners portfolio company.

As part of the transaction, key members of Avmont's senior team are joining the Vida enterprise, including Chief Investment officer William Ketterer, who has been named Managing director of Portfolio Management; as well as director of Operations Brian Barclay who has been named Managing director, COO for Magna Life Settlements.

Vida has also acquired Avmont's intellectual property and certain client and sub-advisory relationships.

Houlihan Lokey served as financial advisor to RedBird Capital on the transaction.

Vida Capital, Inc. is a vertically integrated platform in the life settlements space with USD 4.4bn in assets under management across the different closed-end and open-end funds.

Vida has three primary business lines including life settlement funds, a life settlement provider, and insurance linked securities funds. Vida's wholly owned subsidiary, Magna Life Settlements, Inc., has been in the top three secondary market purchasers over the past three years.

Avmont, LLC, a longevity risk-based asset manager, deploys its proprietary underwriting, mortality tables and analytics across life settlements investments, medical underwriting, and longevity-linked consulting engagements.
Date Published: 06/07/2020