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.
“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.
SOURCE Miravast LLC
