Life Settlement News

The New World companies of Great Neck, NY and the management team of Stone Street Capital, Inc. of Bethesda, Maryland, announced that they have purchased the assets of Stone Street Capital, Inc. through a new entity, Stone Street Capital, LLC. Stone Street is a leading purchaser of periodic cash flow streams, such as lottery prizes, structured settlements, and corporate prize awards. The Company, which will remain in Bethesda, Maryland, employs 100 plus professionals with demonstrated capabilities in structured asset transactions. Stone Street Capital’s web address is http://www.stonestreet.com.

Managing Partners (MPL), the Cayman Islands-based fund management group that invests in traded life policies, has launched a new sterling share class of its Traded Policies portfolio, the GBP Growth Class.

Life settlement funds are emerging as a fresh asset class as investors seek alternative investments uncorrelated to traditional investment markets.

Heralded as a socially-responsible alternative investment, a life settlement involves the purchase of a life insurance policy issued to a US resident after the insured is found to have an impaired life expectancy.

Peachtree Life Settlements (“Peachtree”) has announced that it has arranged for a credit facility allowing it to purchase over $1.5 billion of Life Settlements. Peachtree expects to close on the purchase of several billion dollars worth of life insurance contracts in 2007 and is working closely with major capital markets banks to augment this new facility. Sergio Salani, a Senior Vice President with Peachtree said: “This is terrific news for Peachtree and seniors with unneeded life insurance throughout the country. Given the tremendous volume of business being presented to us, the timing for this credit facility could not be better. We look forward to being the dominant life settlement provider in 2007.”