Alpha Growth PLC SL Investment Management Joint Venture (9722H)
21 November 2018 - 6:01PM
UK Regulatory
TIDMALGW
RNS Number : 9722H
Alpha Growth PLC
21 November 2018
21 November 2018
Alpha Growth plc
("Alpha", or the "Company")
SL Investment Management Joint Venture
Alpha Growth plc (LSE: ALGW), the financial services specialist
in the growing Senior Life Settlement ("SLS") asset class, is
pleased to announce that it has signed Heads of Terms with SL
Investment Management Limited, ("SLIM"), a UK based full scope FCA
regulated alternative investment fund manager, to launch an
Open-Ended Fund investing in life settlements (the "Fund").
The Fund is expected to launch in the first quarter of 2019 and
has a minimum seed commitment of $10 million conditional on the
launch. Alpha and SLIM are co-advisors, with SLIM as the regulated
manager. The Fund will be open to global investors. The
collaboration of Alpha and SLIM is an alliance of the Executive
Teams from both companies, knowing and respecting the abilities of
each, to create an offering that gives investors the ability to
invest in an SLS fund that provides complete transparency and
alignment of interest with its investors. More details of the Fund
will follow in due course. Both companies view this collaboration
as a start of a long-term relationship that will be mutually
beneficial for each on a wider basis going forward.
Gobind Sahney, Chairman at Alpha Growth, commented:
"We are really pleased to be working with SLIM on this project
and look forward to a long and successful collaboration."
Patrick McAdams of SL commented:
"The combination of Alpha and SLIM will be a strong combination
unique in the marketplace. We look forward to working with Danny
Swick, Gobind Sahney and their team towards the success of the
Fund."
About SL Investment Management
Since 1990 in longevity assets.
Starting as the specialist in UK traded endowment policies, SLIM
entered the US Life Settlement market in 2003, subsequently
providing management or investment advice to global institutional
investors across multiple portfolios that have acquired more than
2,800 policies with a face value in excess of $2.9 billion. SLIM
has developed expertise in insurance-based investment funds based
on UK and US domiciled life policies. SL is authorised and
regulated by the Financial Conduct Authority as an Alternative
Investment Fund Manager. SL is a founding member of the European
Life Settlement Association and is dedicated to supporting the Life
Settlement Industry to adopt recognisable standards to promote
Transparency, a Code of Practice and Self Regulation. SL is also a
member of the UK Association of Policy Market Makers founded in
1990.
The Directors expect to make further announcements in due course
and are committed to enhancing shareholder value.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
** ENDS **
For more information, please visit www.algwplc.com or contact
the following:
Alpha Growth plc +44 (0) 20 3959 8600
Gobind Sahney, Executive Chairman info@algwplc.com
Cassiopeia Services (PR/IR) +44 (0) 7949 690338
Stefania Barbaglio Stefania@cassiopeia-ltd.com
Novum Securities Limited (Corporate Broker) +44 (0) 207 399 9400
Colin Rowbury crowbury@novumsecurities.com
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
About Alpha Growth plc
Specialist in Longevity Assets
Alpha Growth plc is a financial advisory business providing
specialist consultancy, advisory and supplementary services to
institutional and qualified investors globally in the multi-billion
dollar market of longevity assets. Building on its well-established
network, Alpha Growth has a unique position in the longevity asset
services and investment business, as a listed entity with global
reach. The Company's strategy is to expand its advisory and
business services via acquisitions and joint ventures in the UK and
the US to attain commercial scale and provide wholistic solutions
to alternative institutional investors who are in need of
specialised skills and unique access to deploy their financial
resource in longevity assets.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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