VM Wealth Management News & Events
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VM Wealth launches IWC Opportunity Fund 1
August 16, 2011
Victoria Mutual Wealth Management (VMWM) on Thursday, August 11, 2011, launched its latest investment opportunity geared at institutional and sophisticated investors interested in the equity real estate market in New York City (NYC).
The fund, which is targeted at multi-family residential and commercial real estate investment acquisitions primarily in Brooklyn NYC, is to be managed by IWC Capital Management, LLC, a New York-based private equity firm which invests primarily in real property and real estate related assets. The firm is headed by Matthew Wright, a former VP, Infrastructure Finance Group at Citibank Global Capital Markets in
At the launch, held at the Terra Nova Hotel in
The 'IWC Opportunity Fund 1' is being offered close to the end of a five year bust cycle in the real estate market in the City. Wright noted therefore, that this is an opportune time to enter the market as that cycle could end soon and the boom cycle, which has historically lasted about 10 years, is about to begin. The IWC fund has a seven year term.
The fund's objective is to provide shareholders with a combination of investment income and capital appreciation through equity investments in the private real estate market primarily located in
Devon Barrett, General Manager, VMWM said the Fund provides a great opportunity for investors to truly diversify their portfolio and to benefit from the acquisition of assets that they would find difficult to acquire on their own.
"We decided to participate in this issue because we think it allows Jamaican investors the opportunity to participate in a new asset class, New York residential real estate, at significantly reduced prices without having to individually acquire those real estate assets," said Barrett. "It can also give our investors the opportunity to diversify their currency position by investing in a foreign currency and achieving higher returns than most other asset classes based on the expected continued renewal of the area and the history of high cyclical growth rates in
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