Fifth Season Investments Acquires Fifth Season Financial LP and the Life Insurance Investment Assets of Chapford Capital II, LP and Chapford Diversified Strategies Fund, LP Stamford, CT – November 15, 2022 - Fifth Season Investments LLC (“Fifth Season Investments”), today announced its successful acquisition of assets to form a new life settlement investment platform.
Fifth Season is a portfolio company of certain Owl Rock business development companies (“BDCs”) that are
externally-managed by indirect subsidiaries of Blue Owl Capital Inc. The acquisition includes (i) all of the life settlement business assets of Fifth Season Financial, LP (“Fifth Season Financial”), and (ii) substantially all of the life settlement investment positions and loans secured by life insurance policies owned by Chapford Capital II, LP (“Chapford Capital”) and Chapford Diversified Fund, LP (“Chapford Diversified”). As a result of the transaction, which is valued at $220 million, all ofthe employees of Fifth Season Financial, including its founding partners Adam Balinsky and Scott Rose, have moved to Fifth Season Investments’ affiliate Fifth Services, LP.
Together with Fifth Season Investments, this new platform will manage and invest in life insurance backed assets, including secondary and tertiary life settlements. The transaction brings best in class talent and operations to Fifth Season Investments as well as an existing performing portfolio of life insurance policy investments.
Adam Balinsky, President of Fifth Season Investments stated, “We are all very excited about growing this business with the investment from the Owl Rock BDCs. This new platform gives our team the financial backing and long-term investment horizon that will allow us to build on our ten years of success in our prior business. We can now expand our footprint and purchase criteria to take advantage of the excellent investment opportunities available in the life settlement market. Our goal is to build a large, diversified life settlement portfolio that provides stable, attractive, uncorrelated returns in the form of a long dated asset.”
Craig Packer, CEO of the Owl Rock BDCs and a Co-Founder of Blue Owl Capital commented, “The Fifth Season acquisition together with the Chapford insurance asset acquisition brings together a best in class team and a proven life settlement portfolio that will act as a launch pad for an investment strategy in the life settlement space. We see life insurance investing as an attractive way to bring non-correlated returns to our portfolio.” Fifth Season Investments will continue to work with its network of life settlement providers, brokers and professionals to build out its portfolio. Balinsky added, “Our goal is to substantially grow our life settlement portfolio over the coming years and to become one of the largest life settlement investors in the market. With backing from the Owl Rock BDCs, we are now capable of expanding our buying parameters beyond our prior focus on highly impaired individuals with short life expectancies to take advantage of opportunities in the main senior life settlement secondary and tertiary markets.”
About Fifth Season: Fifth Season is a portfolio company of certain Owl Rock BDCs, which are externally managed by indirect subsidiaries of Blue Owl Capital Inc. that are SEC-registered investment advisers. Owl Rock is a division of Blue Owl Capital (NYSE: OWL), an alternative asset manager with approximately $132.1 billion of assets under management as of September 30, 2022.