Owl Rock’s Fifth Season Investments’ Acquisition of Fifth Season Financial LP and the Life Insurance Investment Assets of Chapford Capital II and Chapford Diversified Strategies Fund

On November 15, 2022, Fifth Season Investments LLC (“Fifth Season Investments”) announced the acquisition of assets to form a new life settlement investment platform. The acquisition includes of all of the life settlement business assets of Fifth Season Financial, LP and substantially all of the life settlement investment positions and loans secured by life insurance policies owned by Chapford Capital II, LP and Chapford Diversified Fund, LP. The transaction is valued at $220 million. Fifth Season Investments is a portfolio company of certain Owl Rock business development companies. Cravath is representing Owl Rock in connection with the transaction.

The Cravath team is led by partner Matthew L. Ploszek and includes associates Saagar Kaul and Callum A.F. Sproule on M&A matters; partner Arvind Ravichandran and associates Sonia Katharani-Khan and Joana W. Li on tax matters; partner Matthew J. Bobby and practice area attorney David Crampton on executive compensation and benefits matters; associate Nathan Noh on funding matters; of counsel Jesse M. Weiss on regulatory matters; and senior attorney Elizabeth Albert on financing matters. Lyudmila D. Kirichenko also worked on M&A matters.