The Webster family, owners of asset management firm the Seventy Ninth Group, has launched the Seventy Ninth Private Equity Fund.
The Seventy Ninth Private Equity Fund, which is an Experienced Investor Fund (EIF), specialises in the purchase and redevelopment of distressed assets, across a variety of sectors within the UK property market and will enable experienced investors from around the world to have hands-off access to lucrative UK property investments. It is the first investment option from the Webster Family Portfolio to focus on private equity.
The launch of this fund marks further growth in a quite remarkable year for the Southport-based asset management company, who have, in this year alone, grown to have more than double the staff that they had last year and have also more than doubled the number of investors into the assets under their management.
The investment objective is to achieve capital growth and/or rental income by investing in and developing property across residential, commercial and leisure assets. The Private Equity Fund is an open-ended fund capped at £100,000,000.00 GBP.
Jake Webster, one of the Investment Directors of the Seventy Ninth Private Equity Fund, explains, “The purchasing strategy is to acquire buildings that have the opportunity to significantly improve in value.
“What makes this fund attractive to private equity is its robust, regulated framework and its ability to provide investors exposure to the UK property market without the investor having to acquire a single property. The fund is housed in Gibraltar, a politically and financially stable jurisdiction, renowned globally for its financial services industry.
“The Fund implements the same business model we have successfully applied for over thirty years, which thrives in times of economic uncertainty and turmoil, providing investors with a suitable alternative to traditional ‘status quo’ equities.
“Built from the ground up, we’ve always embodied an entrepreneurial spirit, exploring new and increasingly diverse opportunities to the benefit of our investors.”
The Webster family has been successfully creating value in the UK property market since 1985, by acquiring, managing and developing multiple property assets, ranging from the refurbishment of single terraced houses to the development of gateway development schemes. They are trusted by over one thousand private and institutional investors from over twenty-five jurisdictions who see The Seventy Ninth Group as a cornerstone of their investment portfolio.
The Seventy Ninth Private Equity Fund is regulated by the Gibraltar Financial Services Commission and has appointed a licensed Fund administrator (Abacus Fund Administrators) and auditor (Deloitte).