The European Life Settlement Association (ELSA) announces this week that its Membership Committee has approved the membership application of BroadRiver.
Formed in 2009, BroadRiver Asset Management, L.P. specializes in the management of fixed income alternative investments for institutional investors, including pension plans, endowments and high-net-worth family offices. The founding principals have deep roots in the space, with a pedigree that includes running the life settlement desk of Goldman, Sachs & Co., Inc. BroadRiver’s continuing innovation in the life settlement space is heavily based on its data-driven, selective and conservative investment process paired with a rigorous modelling process. BroadRiver’s modelling is designed to achieve the objectives of protecting principal, identifying the range of possible returns with a high degree of confidence, and creating a smooth cash flow with low volatility.
Founded in 2009, ELSA represents European funding sources, service providers and intermediaries in the life settlement market who are looking to promote transparency by providing accurate and authoritative information to investors, regulators and the media. The association’s focus is on the promotion of best practices and the positive development of the European life settlement industry’s reputation amongst all stakeholders.
Alec Taylor, ELSA Chair, said ‘On behalf of its staff and all its members, I would like to extend a very warm welcome to the association. It’s great to have a company of BroadRiver’s standing and reputation as a new member – we really appreciate your support.’
Andrew Plevin, BroadRiver’s Co-CEO, commented ‘We are very pleased to join ELSA during this period of growth in the life settlements industry worldwide. As a leading asset manager in the longevity space, BroadRiver is focused increasingly on international investors. We have found that European institutional investors, in particular, are attracted to the non-correlated nature of well-constructed life settlements funds that offer the potential for high returns with protection of principal and we are committed to actively serving that community.’
ELSA members must comply with the association’s Code of Practice which is a comprehensive framework that ensures the highest professional and ethical standards within the industry and protection of the interests of investors in the asset class.