Carolon Capital Ltd (“Carolon”) and Red Rocks Capital LLC (“Red Rocks”) today announced their mutual intention to launch a UCITS fund with an investment strategy focused on listed private equity. The Red Rocks Global Private Equity UCITS Fund (the “Fund”) is targeted for launch in late 2014 or early 2015 subject to various regulatory approvals from the Central Bank of Ireland. Through an open-ended structure, the Fund will be organized as a sub-fund of a Dublin based corporate entity, Carolon Investment Funds plc (“Carolon Investment”), which will be a variable capital investment company. The authorisation of Carolon Investment is subject to regulatory approval.
Red Rocks will serve as the Fund’s Investment Manager and has been cleared by the Central Bank of Ireland to act as an investment manager to Irish authorized collective investment schemes. Through the development of open-ended mutual fund products for US investors and the management of its Global Listed Private Equity (GLPE) Index, Red Rocks brings deep investment management experience and a demonstrated track record in listed private equity to the Fund.
Carolon will serve as the Fund’s Distributor and Promoter. Carolon has been cleared by the Central Bank of Ireland to act as Promoter to Carolon Investment. Through its relationships with institutional investors and its experience in building and advising on fund structures, Carolon brings a vast network and deep operational acumen to the Fund.
Together, Red Rocks and Carolon hope to further expand the accessibility of private equity in a liquid and transparent format. By identifying and investing in long-term, high-quality listed private equity companies, the Fund expects its portfolio to be built around firms with exceptional private equity management teams, reasonable underlying valuations and compelling future growth prospects.
ABOUT RED ROCKS CAPITAL LLC
Red Rocks Capital is an asset management firm specializing in listed private equity securities. Established in 2003 by founders and Co-Portfolio Managers Adam Goldman and Mark Sunderhuse, Red Rocks was one of the first companies to offer access to private equity through a liquid mutual fund structure. It is currently the largest asset management firm focused exclusively on listed private equity, with approximately $1.4 billion in assets under management for advisor-sold mutual funds and variable annuities for institutions and investors. Red Rocks is a Registered Investment Advisor and regulated by the U.S. Securities and Exchange Commission.
ABOUT CAROLON CAPITAL LTD
Carolon Capital is a specialist advisory firm focused on offering bespoke support in the areas of fund distribution, investor relations and marketing. Established in 2014 by founders Roger Brookes and Tim Smith, Carolon specializes in providing small to mid-size businesses and asset managers the support they need to build, maintain and strengthen their brands. Carolon is registered under the Financial Services (Jersey) Law 1998 and regulated by the Jersey Financial Services Commission in the conduct of Funds Service Business.
Legal Disclaimer
This press release is not an offer to sell, or a solicitation of an offer to buy, securities in the United States, Ireland, Jersey, Channel Islands or elsewhere. This press release does not constitute or form part of any offer or invitation to issue, or any solicitation of any offer to subscribe for or to commit to subscribe for, any shares nor shall it or any part of it form the basis of, or be relied upon in connection with, any contract therefor. Carolon Investment does not intend to register any offering in the United States or to conduct a public offering of any securities in the United States. Carolon Investment is not yet authorised by the Central Bank of Ireland.
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