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AllFinancial Group LLC andBabcock & Brown are pleased to announce that Life Trade Holdco LLC, theirrecently formed joint venture to capitalize on emergingopportunities in the life settlement market, has obtained a $135 millioncredit facility from Autobahn Funding Company, LLC, an asset backed commercial paper conduit sponsored by DZ Bank AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main. Proceeds will augment contributed capital to enable the joint venture, formed in 2007, to expand its recently announced life settlement purchase program.
"It is a credit to the strength of our joint venture that, with credit markets in Europe and the United States tightening, we have secured substantial additional institutional funding to expand our life settlement purchase activity," said Dan Goldman, AllFinancial Group's General Counsel and former Associate Attorney with the New York Department of Insurance.
"Babcock & Brown has been actively involved in the life settlements business for a number of years and this joint venture is an excellent opportunity to capitalize on the emerging opportunities in this space," said Richard Gallo, head of life settlements at Babcock & Brown.
About AllFinancial Group LLC:
A pioneer in the industry, AllFinancial Group entered the settlement market in 1997 as a broker and later vertically integrated by establishing a provider, an active trading operation and an institutional life settlement portfolio management and servicing platform. Since 2002, AllFinancial Group has originated and actively managed life settlement portfolios in excess of $5 billion in face value and has invested proprietary capital aggregated with investment partners' capital in excess of $170 million.
For further information about AllFinancial Group please see our website: www.allfinancialgroupllc.com.
About Babcock and Brown:
Babcock & Brown is an international investment and specialized fund and asset management group with longstanding capabilities in the creation, syndication and management of asset and cash flow-based investments. Babcock & Brown was founded in 1977 and is listed on the Australian Stock Exchange.
Babcock & Brown operates from 32 offices across Australia, North America, Europe, Asia, United Arab Emirates and Africa and has in excess of 1,400 employees worldwide. Babcock & Brown has four operating divisions including real estate, infrastructure, operating leasing, corporate and structured finance. The company has established a funds management platform across the operating divisions that has resulted in the creation of a number of focused investment vehicles in areas including real estate, renewable energy and infrastructure.
For further information about Babcock & Brown please see our website: www.babcockbrown.com.
Contact:
AllFinancial Group LLCBabcock & Brown David P. OlsonMatt Dallas SVP/Business Development 212-796-3918 AllFinancial Group LLCmatt.dallas@babcockbrown.com 60 Long Ridge Road, Suite 205 Stamford, CT 06902 (203) 964-1200 (203) 964-1600 (fax) do@allfinancialgroupllc.com
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