Beverly Chandler, Opalesque London: Ultimate Classic Car Fund Capital Management LLC has announced the launch of the newest entry into alternative investments with its Ultimate Classic Car Fund LP and plans to raise up to $120m for investments in classic cars. The southern California-based fund is planning an aggressive campaign to acquire investment grade classic cars starting in the first quarter of 2013.
The fund launch comes against a background of growth in alternative asset investing with McKinsey reporting that investment in alternative assets has more than doubled between 2005 and 2012 to more than $6.5tln, far outstripping growth in traditional asset classes.
Tangible alternative investments are further supported by Touchinvest LLC, which has added a new platform providing what it describes as "provocative content, community and experiences for new and active investors in real assets, such as art, wine, collectible cars, watches, horses and gems."
The firm says "investment in the asset classes covered by Touchinvest are a critical component of the emerging alternative investment landscape. But Touchinvest also recognizes that investment in real assets and investment-grade collectibles can be complicated by imperfect information, and swayed by personal passion and status-seeking."
The Ultimate Classic Car Fund will purchase its assets prim......................
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