Vida Capital, an alternative asset manager specialising in insurance-linked strategies, has held the final close of Vida Insurance Credit Opportunity Fund II (VICOF II) with USD886 million in capital commitments.
The fund closed ahead of its USD750 million target, reflecting a robust demand for the strategy from leading institutional investors including US 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 capitalises 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 USD3.5 billion of equity capital.