Owl Rock-backed Fifth Season Investments, a manager of life insurance backed assets, agreed to acquire the life settlement business of Fifth Season Financial, life insurance investment assets of Chapford Capital and Chapford Diversified Fund. Financial terms were not disclosed. "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," Adam Balinsky, Fifth Season Investments President.