Transactions


$1.7 billion Deal Value

The Life Settlements and Premium Finance Portfolio of

Has been acquired at auction

Has been acquired at auction

The undersigned financial advisor to KBC Financial Products

April 2010

Freeman & Co. Acted as Financial Advisor to KBC Financial Products
Date
April 2010
Industry
Specialty Finance
Transaction
Sell-Side M&A
Deal Value
$1,700,000,000

Fortress agrees to buy KBC Life-Settlement Portfolio

October 25, 2010 (New York, NY) - Fortress Investment Group has reached an agreement to buy a multi billion-dollar portfolio of life-insurance policies from a unit of KBC Bank NV.

The reported pact signals a possible revival in the distressed market as a new set of big investors aims to profit from the woes of hedge funds and other investors who were holding the policies in 2008 as multiple problems hit.

Life settlements are transactions in which the original policyholder sells the policy to an investor for cash. The investor takes over responsibility for paying premiums, and collects proceeds when the original policyholder dies; the sooner the death, the bigger the return.

A sales price for the KBC portfolio reportedly sold to Fortress couldn't be immediately determined. A Fortress spokesman declined to comment. KBC didn't have an immediate comment.