Swiss private equity firm, Partners Group, has purchased life insurance settlements manager, Chronos Life Group, AltAssets reports. Partners and the seller, U.S. mid-market buy-out house Kohlberg and Company, did not disclose the financial details of the transaction. Chronos allows institutional investors to invest in life settlements, which provide a mechanism for individuals to sell their life insurance policy for a cash settlement. The company was set up by Kohlberg in 2010 through the combination of Ohio-based life settlements originator and servicer, Life Equity, and the life settlements assets of JP Morgan.
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