Will Hong Kong’s wealthy investors develop a taste for rare whisky? This private equity fund thinks so
- Rare whisky is one of the hottest luxury assets bought and sold by the rich, index shows
- Rare Single Malts aims to raise nearly US$25 million in Hong Kong and elsewhere to invest in mostly casks of whisky to hold and sell later
There’s whisky. And then there’s rare whisky – one of the world’s hottest luxury assets that private equity whisky fund Rare Single Malts hopes wealthy Hong Kong investors can develop a taste for as a hedge against global economic uncertainties.
Rare Single Malts aims to raise a total £20 million (US$24.88 million) in capital in Hong Kong and select other cities around the world, which it will then use to buy limited, rare and vintage whisky bottles, collections and casks. The fund is targeting an annual return rate of between 15 per cent and 20 per cent in the next five to seven years.
To get in, investors must chip in a minimum of £100,000 (US$124,400), and leave the investment at least five years. The fund began making its pitch in Hong Kong on June 22.
“This is liquid gold. This is the flight to safety. When the traditional assets have let people down, we’re definitely seeing a thirst for alternative assets,” said Murray Holdgate, general partner at the Rare Single Malts fund.
“Whisky is one of the best performing assets,” compared with other alternative assets and collectibles, said Holdgate, who is also founder of Platinum Rise Capital Partners (PRCP), an investment and development finance company that specialises in the real estate sector.
