Ritchie postpones auction of multistrategy’s life insurance assets


Ritchie Capital Management in early December told investors that it was postponing the final auction of its life settlements portfolio, which is one of the significant remaining assets in the troubled Ritchie Multi-Strategy Fund.

The Lisle, Ill., hedge fund shop, which was founded by Thane Ritchie, put off the auction for the life settlements portfolio from December 10 to January 9 due to a “variety of factors, including the amount of time it has taken to provide prospective purchasers with information on the life policies.”

The Ritchie portfolio contains life insurance policies bought from Coventry First, a player in the