Vida Capital has closed its second insurance credit fund at $886 million, beating its $750 million target. The limited partners of Vida Insurance Credit Opportunity Fund II include U.S. and global public pension plans, insurance companies, foundations, family offices and high-net worth individuals. Proskauer Rose LLP provided legal counsel on the fund’s formation.
Austin, TX (July 31, 2018) – Vida Capital, a leading alternative asset manager specializing in insurance-linked strategies, announced today the final close of Vida Insurance Credit Opportunity Fund II (“VICOF II” or the “Fund”) with $886 million in capital commitments.
The Fund closed ahead of its $750 million target, reflecting a robust demand for the strategy from leading institutional investors including U.S. and global public pension plans, insurance companies, foundations, family offices, and high-net worth individuals.
VICOF II will pursue the current longevity-based investment opportunity existing within the institutional life settlement and insurance-linked assets space. The Fund capitalizes on Vida’s demonstrated track record of alternative investing and life settlement acumen to construct a diversified portfolio of longevity-based investments that exhibits strong cash-flow attributes and no causal relationship to the broader financial markets.
Vida has raised three closed-end funds since its inception in 2009 and, along with its evergreen hedge fund, manages approximately $3.5 billion of equity capital.
Proskauer Rose LLP served as legal counsel in the formation of VICOF II.
About Vida Capital Management
Founded in 2009 and headquartered in Austin, Texas, Vida Capital is a multi-billion dollar alternative asset management firm that manages both evergreen and closed-end structures. Vida specializes solely in insurance-linked strategies with a predominant focus on longevity-contingent risk.