The Seventy Ninth Group private equity fund receives £10m commitment
Asset management company The Seventy Ninth Group has seen more than £10m pledged to its new private equity fund, which includes some private debt in the form of loan notes.
The new product which launched in the third quarter of 2024, with a total share issuance of £100m, offers access to the UK property market.
The fund aims to be fully subscribed by the end of the first quarter of 2025, which will make it one of Europe’s largest private real estate funds.
The fund is designed to capitalise on acquiring distressed and undervalued assets across various real estate sectors, including residential, commercial, and leisure.
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The Seventy Ninth Group is headed up by the Webster family, with more than 50-years of collective experience in acquiring and managing real estate. It identifies opportunities at times of global economic instability and acquires assets below market value.
The fund is set up as an experienced investor fund for sophisticated investors and has a minimum commitment of two years.
It also follows Gibraltar’s Protected Cell Companies Act, and will be divided into cells, with each cell representing a distinct class of shares.
The fund is accessible directly through enquiries to the Seventy Ninth Group and via an exchange traded instrument on the Frankfurt Stock Exchange, with access available on platforms including Moventum and Velocity Trade.
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The fund’s success will be measured through capital growth, targeted annual returns and the ability to manage distressed assets to increase their value, as well as through ongoing valuation of assets using IFRS principles.
“Our new private equity fund represents a significant opportunity for individuals and organisations seeking exposure to the UK property market,” said The Seventy Ninth Group managing director Jake Webster. “It has already proven popular with the British buy-to-let market, with investors who have realised this is a great alternative to owning buy-to-let property directly.
“Leveraging our expertise in acquiring and managing distressed assets, allows us to offer a product with the potential for substantial returns even in challenging market conditions. With our proven track record and the added security of a regulated fund, this will be an attractive proposition for anyone looking to diversify their portfolios with UK property assets.”
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