Phoenix American, a fund administration provider, has partnered with Pennsylvania-based life settlement company Lighthouse Life Capital.
Phoenix American will fulfill the back-office operational needs of Lighthouse Life with its investor services platform featuring the STAR-XMS shareholder management/transfer agent system.
Lighthouse Life says it will benefit from Phoenix American’s combination of advanced technology, partner-oriented client service and experience with the unique operational requirements of alternative investment funds.
Lighthouse Life Capital’s fixed income debt investments, Beacon Bonds, provide investors with the ability to participate in the life settlement asset class.
Its strategy is to source and purchase unwanted, unneeded or unaffordable life insurance policies and generate revenue from the resale of the policies to third-party purchasers.
Proceeds from Beacon Bonds are used to expand networking, marketing and advertising of Lighthouse Life’s life settlement services and to purchase additional policies.
The goal is to realise the return from the resale of policies in weeks or months rather than years, mitigating the risk of constructing and maintaining a portfolio of policies typically associated with life settlement funds.
“Phoenix American is a proven leader in the direct investment market and came highly recommended by our industry peers and business partners. Phoenix American has created a customised working relationship to service our offering and the investors in our company,” says Michael Freedman, CEO of Lighthouse Life.
Andrew Constantin, senior vice president, operations for Phoenix American, comments: “Lighthouse Life is a unique sponsor and we are delighted they turned to us for their back office needs. By working closely with our clients to understand their business and their goals we are able to make our experience work for them. We look forward to a very successful partnership.”
