Baar-Zug, 24 March 2011
Partners Group invests in Chronos Life Group on behalf of its clients
Partners Group, the global private markets investment manager, closed a direct investment in Chronos Life Group on behalf of its clients. Chronos Life Group, a Kohlberg & Co. portfolio company, recently acquired a diversified, high quality portfolio of life settlements from J.P. Morgan, and independently, a majority stake in Life Equity LLC, a prominent originator and servicer of life settlements based in the US. In acquiring these assets, Chronos Life Group should become a leading originator, servicer and asset manager in the life settlements industry.
Walter Keller, Partner and head private equity directs and primaries, comments: "We are very excited about this investment opportunity. The American life settlements industry is rebounding due to the increasing availability of credit and, going forward, the increasing population of senior citizens in the US is expected to be a natural growth driver for life insurance policies. Furthermore, the sale of existing life settlement assets from one investor to another is rapidly creating a tertiary market which is expected to further add to industry growth."