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Carlisle Management Concludes Fundraise For Absolute Return Fund II

Life settlements investment manager Carlisle Management Company SCA has raised $290mn for its new closed-end fund, Luxembourg Life Fund: Absolute Return Fund II FCP RAIF. The target was $250nn.

“We are extremely proud to have closed our Absolute Return Fund II above target, particularly during a period of significant global economic distress,” said Oleksandra Polishchuk, Carlisle’s Chief Marketing Officer. “This achievement is not only a testament to investors’ confidence in Carlisle and its diligence processes, but also the fundamental importance and advantages of the life settlements industry, which is driven by an isolated mortality variable and thus has limited correlation to the state of traditional financial markets.”

“Today’s milestone builds upon decades of Carlisle’s industry experience and complete access to the life settlement markets,” said Jose Garcia, CEO of Carlisle. “Smart institutional capital is recognizing the benefit of entering the market now, which has been demonstrated through ARF II’s robust capital raise. We expect the current temporary lack of liquidity to soften the tertiary markets, creating sourcing opportunities. Further, we believe that closed-end life settlement funds represent a solid hedge, particularly within the context of the ongoing COVID-19 pandemic.”

Deployment of the fund, which includes several hundred life insurance policies, commenced last year and is diversified across multiple parameters including face value, insurance carrier, age, mortality profile, carrier rating, and gender, according to the firm.

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