Whisky fund uncorks US$50 million play on casks after scams rattle market
The Platinum Whisky Investment Fund II draws lessons from its first iteration, will have a more active foreign exchange hedging strategy
Add BT as a preferred source
[SINGAPORE] A new whisky investment fund is seeking to tap demand for alternative assets with a regulated structure and a revised strategy, as investors look for safer ways into an asset class hit by fraud cases and falling prices in recent years.
The Platinum Whisky Investment Fund II (PWIF II), launched on Monday (Apr 20), aims to raise up to US$50 million from professional investors. It has a five-year investment horizon, with the option of two one-year extensions under a “5+1+1” structure.
The first fundraising round is expected to close by September, said Rickesh Kishnani, co-founder and chairman of Rare Whisky Holdings, in a pre-launch interview with The Business Times.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Is it time to scrap COE categories for cars?
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
Former manager with DBS Bank admits cheating 7 victims, including his uncle, of over S$1 million
