Vida Capital Inc. has acquired Magna Life Settlements Inc. from BMI Financial Group Inc.
Vida Capital, Austin, Texas, a firm that structures and manages life settlement funds, says that BMI, Coral Gables, Fla., will continue to own a minority stake in Magna, Coral Gables, and that Ramiro Rencurrell will continue to be the president of Magna.
Rencurrell is a past president of the Life Insurance Settlement Association, Orlando, Fla.
"The collaboration with Vida Capital brings access to new resources for growth through institutional expertise, capital and industry resources," Rencurrell says in a statement about the deal.
Vida Capital is backed by Austin Ventures L.P., Austin.
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
