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Private placement variable life insurance and annuities invested in hedge funds: due diligence issues for all parties to the transaction

Roger Lorence (Attorney at the Law Offices of Roger Lorence, New York, New York, USA)
Steven Q. Zhang (Managing Director at the Fund Tax Services LLC, New York, New York, USA)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 13 September 2011

Abstract

Purpose

The purpose of this paper is to highlight not only the pre‐closing, but also the continuing due diligence required of all parties in private placement life insurance or annuities invested in hedge funds.

Design/methodology/approach

This technical paper describes the due diligence process for these high‐end offerings, illustrating key concerns through case studies.

Findings

Recent events have caused the advantages, disadvantages and timing issues to crystallize, together with what issues require pre‐closing and post‐closing due diligence.

Originality/value

This paper provides timely guidance from experts approaching the issues from multiple disciplines – law, accounting, and financial analysis – to yield a comprehensive analysis of the position of all parties to the transaction.

Keywords

Citation

Lorence, R. and Zhang, S.Q. (2011), "Private placement variable life insurance and annuities invested in hedge funds: due diligence issues for all parties to the transaction", Journal of Investment Compliance, Vol. 12 No. 3, pp. 4-13. https://doi.org/10.1108/15285811111172240

Publisher

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Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited