Black Tulip Asset Management (BTAM), a Miami-based alternative asset management company exclusively focussed on advising and structuring exchange-traded products (ETPs) on the European capital markets and other capital structures, has launched a USD182.5 million real estate and media investment bond platform consisting of three Euro Medium Term Notes.
The notes are the BlackTulip Global Fund CRE ETP I, the Black Tulip Rebel Way Entertainment ETP I, and the Black Tulip Empyre Media ETP I.
Using an Irish securitisation programme arranged by FlexFunds and issued by IA Capital Structures plc and HFMX DAC, the underlying assets are structured as exchange-traded products and distributed through a Euroclearable, dual-listed security on Euronext Paris and Wiener Börse. This is designed to provide simplicity, full transparency and tax-efficiency, including price (NAV), calculation and global distribution, ISIN, Bloomberg/Reuters page, with trustee services by Sanne Fiduciary and Intertrust Trustees and audit services by PwC.
BTAM Managing Partner Oliver Gilly says: “Global investors and their advisors are invited to seize this unique opportunity to participate in the US commercial real estate and Hollywood media markets by purchasing a listed debt instrument through their brokerage accounts.”
BTAM aims to establish over USD1 billion USD in ETPs for institutional and private wealth distribution in Europe, Latin America, Asia and Middle East.