Fund administration provider Phoenix American has formed a new partnership with Pennsylvania-based life settlement company Lighthouse Life Capital.
Phoenix American will fulfil the back-office operational needs of Lighthouse Life with its industry-leading investor services platform featuring the state-of-the-art STAR-XMS shareholder management/transfer agent system. Lighthouse Life will benefit from Phoenix American’s combination of advanced technology, partner-oriented client service and long experience with the unique operational requirements of alternative investment funds.
Lighthouse Life Capital’s fixed income debt investments, Beacon Bonds, provide investors the ability to participate in the life settlement asset class. Lighthouse Life’s 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.
Lighthouse Life works with financial professionals, including insurance agents, financial advisors, accountants, and others who advise and assist life insurance policy owners with the sale of unwanted policies. The goal is to realise 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 has combined the most efficient systems and precision back-office processes in alternative investments since its origins as a fund sponsor in 1972. With the growing variety and sophistication of alternative investment products and the increasing demands of both investors and regulators, advanced operational solutions are critical to the success of today’s product sponsors. Phoenix American’s industry-leading STAR-XMS transfer agent system is the result of the company’s direct experience as a fund sponsor as well as decades of experience as an administrator for alternative investment funds.
“Phoenix American is a proven leader in the direct investment market and came highly recommended by our industry peers and business partners,” says Michael Freedman, Chief Executive Officer of Lighthouse Life. “Phoenix American has created a customised working relationship to service our offering and the investors in our company.”
“Lighthouse Life is a unique sponsor and we are delighted they turned to us for their back office needs,” says Andrew Constantin, Senior Vice President, Operations for Phoenix American. “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.”