Alpha Growth (ALGW)  the financial services firm, has partnered with SL Investment Management to launch a fund investing in Life Settlements, named the BlackOak Alpha Growth Fund.

SL Investment Management is a UK based full scope FCA regulated alternative investment fund manager. The fund will focus on Senior Life Settlements as an asset class.

Rob Ireland, Managing Director of SLIM said:"We are very excited about the launch of the Fund and to be working with Alpha on this project. As a long-established participant in the longevity asset industry, the creation of BOAGF is a strategically important addition to our existing Life Settlement business.”

The fund will available to qualified global investors requiring a minimum investment of $250,000, with quarterly redemption windows for liquidity.

It has a target return between 10% and 14%, with a 1.5% annual management fee and 20% performance fee for returns over a hurdle rate of 7%.

Shares in Alpha Growth were trading 6% higher at 1.75p a share by mid morning.

Danny Swick, Chief Executive Officer of Alpha, commented: "The hard work to create a global fund exemplifies the working relationship we have with our advisors and especially SLIM and our mutual understanding of the asset class and goals of providing a world class fund in which investor and manager interest are aligned to produce the target returns."

Advisors include Sadis Goldberg, KPMG, Applebys, LK Shields, Advance Fund Administration, WB Financial and CAFICO Ireland.

The company said it has received commitments for initial investment seed capital of approximately $15m, and is on-boarding initial investment commitments.

It is rolling out a comprehensive marketing strategy targeting family offices, ultra-high net worth individuals, private wealth managers, and fund of fund investors.

Rob Ireland, Managing Director of SLIM addedL: “Alpha and SL's skill sets compliment each other exceedingly well, and the creation of BOAGF in partnership with Alpha offers a formidable proposition for investors considering an investment in Life Settlement."

It also raised £450,000 in a placing on Tuesday as it rolls out its product suite.

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