RE: uncorrelated safety10 Dec 2019 17:14
News on BlackOak also due. Gla ;-)
30 April 2019
Alpha Growth plc
("Alpha", or the "Company")
BlackOak Alpha Growth Fund Launch
Alpha Growth plc (LSE: ALGW), the financial services specialist in the growing Senior Life Settlement ("SLS") asset class, is pleased to announce that in partnership with SL Investment Management Limited ("SLIM"), a UK based full scope FCA regulated alternative investment fund manager, have launched the BlackOak Alpha Growth Fund ("BOAGF", or the "Fund").
Alpha Longevity Management Limited ("ALM", a wholly owned subsidiary of Alpha and a BVI FSC approved investment manager) in partnership with SLIM are the exclusive Managers to BOAGF. Both SLIM and Alpha are the General Partners of the Limited Partnership.
The Fund is an open-ended Cayman Island Exempt Limited Partnership investing in Life Settlements and is available to qualified global investors. Requiring a minimum investment of $250,000, the Fund has a target return between 10% and 14%, and provides investors with liquidity through quarterly redemption windows. The Fund has a management fee of 1.5% per annum and a [annual] performance fee calculated as 20% of all returns in excess of the hurdle rate of 7%. Both the management and performance fees will be received by the General Partners. The fund is supported by third party advisors including Sadis Goldberg (USA law firm), KPMG (Cayman, USA, and Ireland), Applebys (Cayman law firm), LK Shields (Ireland law firm), Advance Fund Administration (Cayman), WB Financial (Cayman), and CAFICO Ireland.
The Fund has received commitments for initial investment seed capital of approximately $15m. Over the course of the next few weeks and beyond, Alpha and SLIM will be on-boarding the initial investment commitments and rolling out a comprehensive marketing strategy targeting family offices, ultra-high net worth individuals, private wealth managers, and fund of fund investors.