NEW TOWN,
Pa., July 10, 2024 /PRNewswire/ -- Miravast
Asset Management LLC, a leading vertically integrated investment
manager with deep experience underwriting longevity risk and
investing in life settlements is pleased to share that it recently
completed fundraising for Miravast ILS Credit Opportunities II LP
("Fund II") with $346 million of fund
commitments.
Miravast Completes Fundraise For Its Second
Flagship Fund.
"Closing Fund II represents an important
milestone for Miravast. We continue to believe Miravast offers
institutional investors an unparalleled team of medical
underwriting and actuarial experts. The LP support we are fortunate
to have for Fund II further exemplifies the confidence that the
institutional LP community has in the Miravast team," said
Dave Beckelman, Chief Executive
Officer.
"As with its predecessor, Fund II has a global
institutional investor base. We are grateful to have support
from existing and new institutional LP's as we execute our
strategy. We have invested a portion of Fund II's committed
capital and will continue to leverage our in-house expertise as we
pursue additional investments," said Dave
Cherkas, Executive Vice President.
Schule Roth & Zabel LLP served as legal
counsel for Miravast Asset Management and Fund II.
About Miravast Asset Management LLC
Founded in 2012, Miravast (www.miravast.com) is a
vertically integrated asset management firm with approximately
$1.2 billion of assets under
management. Miravast's experience in life insurance product design
and medical underwriting, coupled with our perspective on
investment structures, allows us to help institutional investors
navigate the complexities of investing in longevity risk, chiefly
life settlements.
Our in-house medical underwriters utilize a
proprietary view based on a significant population of settled life
insurance policies. Additionally, our underwriting model
provides interest alignment that differs from the outsourced
volume-based models most often utilized by the broader market. Our
underwriting and life insurance product experience can lead to
significant differences in our view compared to the market's view.
We seek to identify opportunities that others miss and avoid those
that others may overvalue while still acquiring assets at market
value.
Miravast team members have led the investment of
approximately $6 billion since
2001. We advise separately managed accounts and pooled
investment funds for pensions, endowments, insurance companies, and
family offices.
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SOURCE Miravast LLC