Future Partners Capital has temporarily closed its fund-raising book
for a specific real estate project having raised £65m from 38 clients
since the beginning of the year.
October's issue of Portfolio Adviser refered to the
alternative investment boutique raising £40m towards a target of £150m,
and it has subsequently raised a further £25 in the past two weeks. The
firm is expected to resume fund raising towards the end of November and
will close its book again in March 2010.
The specific project is a luxury real estate development in Budva,
Montenegro - for which Future Capital Partners has actively been
raising capital since January this year - that will include a series of
residential properties, a dedicated trade fair complex and a hotel to
be run by InterContinental.
The proposition, as with others that Future Capital Partners raises
funds for, is aimed at sophisticated investors with a mid to high risk
outlook and, importantly, are UK taxpayers. With this particular
proposition, investors also need to be prepared to wait until 2013 for
the first returns to be paid out.
The firm works alongside wealth managers, accountancy firms and tax
consultants to raise capital for projects that are tax-led investment
propositions rather than turning them into unit trusts or private
equity products. (Source: portfolio-adviser.com)
