Alpha Growth PLC BlackOak Alpha Growth Fund Launch (4702X)
April 30 2019 - 2:00AM
UK Regulatory
TIDMALGW
RNS Number : 4702X
Alpha Growth PLC
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.
Updates on the Fund will be posted from time to time on its
website.
Alpha and SLIM would like to thank all its advisors in their
efforts to launch the BlackOak Alpha Growth Fund.
Danny Swick, Chief Executive Officer of Alpha, commented:
"Working through the holidays and three different regulatory
jurisdictions, that caused a slight delay, we are really pleased to
finally get BOAGF launched and into the hands of interested parties
awaiting the opportunity. The hard work to create a global fund
exemplifies the working relationship we have with our advisors and
especially SLIM and our mutual understanding of the asset class and
goals of providing a world class fund in which investor and manager
interest are aligned to produce the target returns."
Rob Ireland, Managing Director of SLIM,:
"We are very excited about the launch of the Fund and to be
working with Alpha on this project. As a long-established
participant in the longevity asset industry, the creation of BOAGF
is a strategically important addition to our existing Life
Settlement business. Alpha and SL's skill sets compliment each
other exceedingly well, and the creation of BOAGF in partnership
with Alpha offers a formidable proposition for investors
considering an investment in Life Settlement."
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For more information, please visit www.algwplc.com or contact
the following:
Alpha Growth plc +44 (0) 20 3959 8600
Gobind Sahney, Executive Chairman info@algwplc.com
-----------------------------
Novum Securities Limited (Corporate
Broker) +44 (0) 207 399 9400
-----------------------------
Colin Rowbury crowbury@novumsecurities.com
-----------------------------
About Alpha Growth plc
Specialist in Longevity Assets
Alpha Growth plc is a financial advisory business providing
specialist consultancy, advisory, and supplementary services to
institutional and qualified investors globally in the multi-billion
dollar market of longevity assets. Building on its well-established
network, the Alpha Growth Group has a unique position in the
longevity asset services and investment business, as a listed
entity with global reach. The Group's strategy is to expand its
advisory and business services via acquisitions and joint ventures
in the UK and the US to attain commercial scale and provide
wholistic solutions to alternative institutional investors who are
in need of specialised skills and unique access to deploy their
financial resource in longevity assets.
About SL Investment Management
Established in 1990, starting as the specialist in UK traded
endowment policies, SLIM entered the US Life Settlement market in
2003, subsequently providing management or investment advice to
global institutional investors across multiple portfolios that have
acquired more than 2,800 policies with a face value in excess of
$2.9 billion. SLIM has developed expertise in insurance--based
investment funds based on UK and US domiciled life policies.
SL is authorised and regulated by the Financial Conduct
Authority as an Alternative Investment Fund Manager. SL is a
founding member of the European Life Settlement Association and is
dedicated to supporting the Life Settlement Industry to adopt
recognisable standards to promote Transparency, a Code of Practice
and Self Regulation. SL is also a member of the UK Association of
Policy Market Makers founded in 1990.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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