The real estate fund builds upon the General
Partners' 10-year track record in the luxury vacation rental
home market
NEW
YORK and COLUMBUS,
Ohio, April 30, 2024 /PRNewswire/ -- East
Chop Capital (East Chop) today marks the successful closure of its
Fund II at $11 million, which focuses
exclusively on luxury vacation rental homes.
"Fund II is about scale and pattern recognition as we invest in
undiscovered, overlooked/undervalued, or value-add vacation rental
homes and developments across the United
States," said Carrington M.
Carter, Co-founder and General Partner. "We're pleased to
already be putting this capital to work in Florida and Texas."
Fund II drew equity investments from 93 LPs, including Liberty
Financial Services.
East Chop closed its first fund in December 2020 at $4
million, which is currently on track to deliver 25% returns,
net of fees, and a focus on the $75
billion global vacation market that is projected to reach
over $130 billion by 2033.
With an emerging presence in private equity, East Chop unveils a
divergent new blueprint for capital deployment, promising
innovation and growth for investors and founders.
The firm has also invested in technology, financial services,
media, and professional sports, and is the largest minority-led
investment group in Uncle Nearest, Inc. With $30 million in AUM, East Chop's growing network
includes approximately 200 investors, 90% of whom are Black, and
approximately 23% of whom are women.
"East Chop Capital is building on its extensive ecosystem to
educate investors in private equity and venture capital, and
simultaneously opening doors to unique investment opportunities,"
said Calvin L. Butts, Jr.,
Co-founder and General Partner. "These key pillars are part of our
philosophy of investing to build generational wealth while tackling
socioeconomic disparity."
Forward Looking Statements
Certain information set
forth in this press release contains "forward-looking information"
under applicable securities laws. Except for statements of
historical fact, the information contained herein constitutes
forward-looking statements and includes, but is not limited to, the
(i) projected financial performance of East Chop Capital; (ii) the
expected development of our business; (iii) execution of our vision
and growth strategy; (iv) completion of our projects that are
currently underway, in development or otherwise under
consideration; and (v) future liquidity, working capital, and
capital requirements. These statements are not guarantees of future
performance and undue reliance should not be placed on them. Such
forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause actual performance and
financial results in future periods to differ materially from any
projections of future performance or result expressed or implied by
such forward-looking statements. East Chop Capital undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates or opinions should change except as required
by applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking statements.
About East Chop Capital
East Chop Capital is a
private equity firm founded in 2018, born from the idea and
necessity of pooling the resources of many to build generational
wealth for investors, and connect business owners to capital,
relationships, and other resources to catalyze their success. The
growing East Chop Capital network works to eliminate socioeconomic
disparity and close the wealth gap, through its commitment to
provide the best combined financial, educational, and social
returns. Learn more at https://eastchopcapital.com/
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SOURCE East Chop Capital