The Webster family, owners of the Seventy Ninth Group, launch a £100m private equity fund
The Webster family, owners of asset management company Seventy Ninth Group, launched the Seventy Ninth Private Equity Fund.
SUDPORT, England, November 8, 2022 /PRNewswire/ — The Seventy Ninth Private Equity Fund, which is an experienced investor fund (EIF), specializes in the purchase and redevelopment of distressed assets, across various sectors of the UK property market and will provide experienced investors from around the world with direct access to lucrative property investments in the UK. It is the first investment option in the Webster Family Portfolio to focus on private equity.
The launch of this fund marks further growth in a truly remarkable year for the Southport-based asset management company, which in this year alone has grown to have more than doubled the staff they had last year and also more than doubled the number of investors in the assets under their management.
The investment objective is to achieve capital growth and/or rental income by investing in and developing property across residential, commercial and leisure assets. The Private Equity Fund is an open-ended fund capped at GBP 100,000,000.00.
Jacques Websterone of the investment managers of the Seventy Ninth Private Equity Fund, explains: “The purchase strategy is to acquire properties that have the possibility of increasing their value considerably.
“What makes this fund attractive for private equity is its robust and regulated framework and its ability to provide investors with exposure to the UK property market without the investor having to purchase a single property. The fund is housed in Gibraltara politically and financially stable jurisdiction, recognized worldwide for its financial services industry.
“The Fund implements the same business model that we have successfully applied for more than thirty years, which thrives in times of economic uncertainty and turmoil, providing investors with a suitable alternative to traditional ‘business as usual’ equities.
“Built from the ground up, we have always embodied an entrepreneurial spirit, exploring new and increasingly diverse opportunities for the benefit of our investors.”
The Webster family has successfully created value in the UK property market since 1985, acquiring, managing and developing several property assets, ranging from the renovation of single-detached houses to the development of walkway development projects. More than a thousand private and institutional investors from more than twenty-five jurisdictions trust them and consider The Seventy Ninth Group as the cornerstone of their investment portfolio.
The Seventy Ninth Private Equity Fund is regulated by the Gibraltar Financial Services Commission and has appointed a licensed fund administrator (Abacus Fund Administrators) and an auditor (Deloitte).
Notes to Editors
Seventy Ninth™ Private Equity Funds
The Seventy Ninth Private Equity Fund (PEF) is a type of private equity fund, known as an experienced investor fund, domiciled and based in Gibraltar, a British Overseas Territory. PEF is authorized and regulated by the Gibraltar Financial Services Commission (GFSC). The Fund is a growth-oriented financial offering designed to allow qualified investors to invest in a vehicle that strategically targets high-yielding assets, all of which are backed by and benefit from the performance track record of the Fund’s administrators.
About the Webster Family Portfolio
The Seventy Ninth Private Equity Fund (PEF) is owned by the Webster family, which also owns an extensive portfolio of other asset management firms, including the Seventy Ninth Group. The Seventy Ninth Group is an award-winning asset management company headquartered in the UKfounded by a serial entrepreneur David Webster and his sons, Jake and Curtis Webster. Alongside the Seventy Ninth Group, the Webster family companies consist of: Seventy Ninth Resources, Seventy Ninth Luxury Living, Seventy Ninth Commercial, Seventy Ninth Global and Seventy Ninth Global DMCC.
For more information, visit www.79thfund.gi
SOURCE The seventy-ninth group