Carolon Capital and Red Rocks Capital are planning to launch a UCITS fund with an investment strategy focused on listed private equity.
The Red Rocks Global Private Equity UCITS 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 organised as a sub-fund of a Dublin based corporate entity, Carolon Investment Funds plc, 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 authorised 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.
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.