“Too much of anything is bad, but too much good whiskey is barely enough.” Seemingly insatiable demand for whisky has created supply pressures on distilleries. The tragic scarcity has led to premium whisky becoming the next asset class for the wealthy breed of investor-collectors after fine art and wine. To capitalize on the global growth for rare single-malt scotch whisky, the world’s first private equity whisky fund has started raising funds in Hong Kong. “Platinum Whisky Investment Fund”, a brainchild of Platinum Whisky Investment Fund CEO Rickesh Kishnani and Platinum Whisky Investment Fund CIO David Robertson, hopes to raise the funds to invest in rare Scotch whisky stocks through “buy and hold” strategy.
The Platinum Whisky Investment Fund will acquire large parcels of premium whiskies at below market prices and trade stock at premium values to create a strong niche position in the market.
“We see more and more demand growth in the whisky sector. The supply strategies in the 1980s did not take into account the growth that we are seeing in Asia. We are running out of rare vintages and this is what our fund is going to be investing in,” Rickesh Kishnani, CEO of Platinum Whisky Investment Fund, told Bloomberg.
Platinum Whisky Investment Fund is readying to launch in Hong Kong this June with a target commitment of US$10 million and a minimum subscription of US$250,000.
[Via – Businessweek]