Tue, Feb 28, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Emco launches alternative fund investing in late night licensed venues

Monday, November 26, 2012
Opalesque Industry Update - EMCO Capital Advisers is launching a Cayman registered alternative investment fund focused on investment in late night licensed venues in the UK. The Fund is aiming for exceptional returns to investors over a rolling two-year cycle.

EMCO Alternative Property Fund has been structured to achieve principally capital growth and some additional return from income via a portfolio of freehold entertainment venues in three ways:

1) Capital growth arising from the relicensing of premises whose license has been lost or withdrawn

2) Income arising from the granting of operating leases to EMCO Leisure Ltd (the Venue Operator) which will operate the venues

3) Capital growth arising from attaining ‘change of use’ permissions on premises, for example planning permission for conversion to residential property. This third element also provides investors with a key risk management function in the event that having an entertainment venue is not attractive to a potential purchaser

4) Unless there are exceptional circumstances, each venue within the portfolio will be sold, either by private contract, or via trade sale or other means towards the end of the a two-year period

The Fund’s trading advisers are concentrating on building the investment portfolio from premises usually outside London which, after substantial due diligence and financial modelling are found to share the following characteristics:

  • Freehold
  • Frequently distressed – for example in want of refurbishment, running at a loss, having no operating license – and thus buyable at a substantial discount to book value
  • Likely to benefit from significant and immediate capital value increase on granting of an operating license
  • Likely to benefit from significant and immediate capital value increase on granting of change of use permission
  • Capable of generating useful income as a venue based on Adviser’s proprietary analytical model and considerable experience of running entertainment venues
  • Susceptible to longer-term capital value increase arising from the operation of a successful and popular entertainment venue

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Comment - Mortgages, mergers and hedge fund fees, Fairholme's Berkowitz responds to court ruling against hedge fund suits of Fannie Mae[more]

    Mortgages, mergers and hedge fund fees From Bloomberg.com: Yesterday the U.S. Court of Appeals for the D.C. Circuit handed down an odd decision in a lawsuit over the government's nationalization of Fannie Mae and Freddie Mac. The key issue is what's called the "Third Amendment," the 2012

  2. Investing - Hedge funds continue to chase the herd in record Momentum wager, Marshall Wace bets grocer Sainsbury may need rights offering, Hedge fund net exposure has started to retreat, David Tepper's Appaloosa fund makes a huge buy, The 10,000-mile journey to Short Australia, Skeptical hedge fund investors grill Evan Spiegel about Snap's I.P.O.[more]

    Hedge funds continue to chase the herd in record Momentum wager From Bloomberg.com: Hedge funds can't get enough of momentum - even if it means embracing an investing strategy they hate. Loosely defined as betting on shares that went up the fastest over the preceding nine-to-12 months, h

  3. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  4. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d

  5. Ex-Navy SEAL backed by Mario Gabelli, Jean-Marie Eveillard and other value giants off to strong start[more]

    From Valuewalk.com: Sententia Capital Management is not your average value focused hedge fund. The fund was founded by Michael Zapata, a former Navy Seal Team 6 Officer and has attracted funding from some of the best-known names in the value space. Mario Gabelli, Jean-Marie Eveillard from First Eagl