We've all been talking about private equity investing in life settlements for a while. The rumors have persisted for the past year and the whispers have grown louder throughout 2010. Finally, a report of movement about private equity in the life settlement world has come out naming Cerebus Capital as the funding source for Proverian Capital. Cerebrus is one of the largest PE firms in the United States.
While I am sure Proverian wouldn't admit if Cerebrus is their funding source, this is a huge win for Proverian. You know anyone that can buy Chrysler and live to tell about it is well capitalized.
I for one applaud Cerebrus for jumping into the longevity market. I have a feeling this will pave the way for other PE firms to jump in as well.
www.cerberuscapital.com
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