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Wednesday, September 24, 2014

CEO Asia Q&A: Rare Whisky Fund Expands Capital: CEO Rickesh Kishnani

TMJ Partners welcomes you to our first CEO Asia Q&A interview series with top executives in finance. We will interview CEO executives across Asia & Japan, on their expanding business and future returns, twice a month. Our goal is to introduce new Asia Pacific products & services. It is aimed at those looking for something different, a true information edge. Enjoy!



Today we interview Rickesh Kishnani, the CEO of Platinum Wines in Hong Kong. He has raised US$4MM in capital for the world's first Whisky Fund with private equity style returns. It is focused on rare old whisky stock, and is expanding.

1) When did you start your fund? How big is your fund now? and where is the fund's maximum capacity in the future? 
The fund began capital raising in March 2014.  We raised US$4MM in the first round which closed on June 30th 2014.  We have now begun the 2nd round of capital raising at the beginning of September 2014, and are looking to raise an additional US$6MM in capital to bring the total fund size to US$10MM.  That will be the maximum limit for this fund.

2) What kind of returns are you expecting in the short or longer term? How many years will this run for over time?
The expected returns for investors is 15-20% annually (net of fees) over the term of the fund which is 7 years. Final exit prices in auctions or private sales may increase these returns over the life of the fund.

3) How do investors exit or benefit from returns? Do you pay with cash dividends only? or other ways?
We will be paying dividends annually and investors will have a choice to take their dividend in 100% cash or 90% cash and 10% in the equivalent value of rare whisky bottles. Most of the asset inventory is stored in a professional bonded warehouse in Scotland.

4) Why is a whisky fund different from wine funds? Why not just buy top Bordeaux wines instead?
The fundamentals of wine and whisky are based on supply and demand economics.  What is unique about whisky is that creating whiskies aged over 18 years is a long process as all the aging happens only in the barrel. Demand is already outstripping supply, especially in Asia, and there is finite stock available because back in the 1980s and 1990s very little whisky was put aside for long term aging. Growing demand makes rare whisky a compelling collectible investment. Another advantage is that once whiskey is in the bottle, it is much easier to care for long term. It is not nearly as sensitive to the 15-20 C temperatures often needed for storing wine.

5) Why are you so driven to make this fund do well? What investment opportunity was so compelling? Why should investors consider your fund compared to other opportunities? 
This is the world’s first and only PE whisky fund and the investment opportunity is only available for the next 10-15 years while there is a gap in the market for rare and aged single malt whiskies.  The fund’s CIO (David Robertson) is a former master distiller at The Macallan and former rare whisky director at The Dalmore.  We have access and have already purchased amazing stock of rare whiskies at below market prices through private collectors in Europe, typically HNWI backgrounds.  We also have several exit strategies already in place including selling to auction houses, a large database of 3000+ private clients across Asia, and partnerships with large hotels/casinos across Asia & Europe.

6) Any extra benefits that are worth sharing at this time?
In addition to the returns, investors will also have access to several unique whisky experiences:
o   Opportunity to buy whisky from the fund’s holdings (at the latest valuation)
o   Exclusive whisky tastings hosted by brand ambassadors and the Asia fund CIO
o   Access to limited edition whisky releases for direct purchase
o   Chance to visit Scotland and the distilleries through organized tours
o   VIP access to premium whisky events in Las Vegas and Macau


7) Are you only going to invest in single malt whisky bottles from Scotland or are there others worth investing into? How hot is the market for rare whisky now? 
The majority of the fund will be whisky from Scotland but also we collect Japanese whiskies such as rare Yamazaki, Hibiki, and Karuizawa. Prices are really rising so our returns may turn out to be much higher. A recent bottle of 64 year old Glenfiddich from 1937 sold in London, UK for over GBP100,000 for a single bottle. It was 1 of only 60 bottled that year.

For more information about this new opportunity, please contact Rickesh Kishnani directly via email at rickesh@platinum-wines.com 


If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 45,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業45,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.


    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Wednesday, September 10, 2014

"How to Start a Hedge Fund" by SinoPac & Interactive Brokers Sept 24, 2014

On September 24, 2014 in Hong Kong a free seminar about "How to Start a Hedge Fund" will take place. Steve Bernstein, the CEO of SinoPac Solutions and Services, and event partner Interactive Brokers, has been interviewed by Mark Pink, from TMJ Partners. Learn more about how you can attend below by RSVP only.



1) Who is the main target for this event? Former traders only? or any financial professional who are considering a hedge fund in the future?
More than 40 attendees have already confirmed and a maximum of 100 are expected at this event. Any serious professional preparing to start a fund is welcome
2) Is this free to attend to all or only PMs who are considering starting a hedge fund? Is there a minimum AUM size target for those who attend?
The event will be free and a RSVP is required to enter. Funds can start with as little as US$2M, but most have more on day one, key vendors will also attend. 
3) Is this the first of a series of similar events? Will this event only be for Hong Kong based hedge funds of also Singapore or Tokyo?
SinoPac have several events including "under the radar" events where one fund is profiled and potential investors are introduced. The last was US$13M in AUM. SinoPac would like to hold this event in Tokyo, Singapore and Shanghai as well.
4) Is the SinoPac/Interactive Brokers team in place competitive when compared to similar services from global prime brokers within investment banks?
The SinoPac team is more a compliment best fit for small to mid-sized firms. Large investment banks in Asia often refer smaller clients of less than US$100M in AUM to SinoPac
5) What kind of price or value do you think is the most compelling part of the event's team when compared to similar rival services?
Prices are very competitive and it is the extra care to help with pitch books and set up guidance that help keep costs low for start-up funds of any kind
6) Can other professionals not based in Hong Kong attend? Is this open to professionals now preparing for a hedge fund career change?
This is open to all financial professionals who reserve in advance. Attendees can be based in Hong Kong or anywhere else in the region or overseas.
7) What key points of the events team members do you wish to highlight for prospective attendees in Hong Kong or elsewhere?
The SinoPac/Interactive Brokers team is made up of very experienced professionals from the market, not professors used to theory. The platform has grown to 33 clients in just 2 years. They are a mix of hedge funds, private equity funds, asset managers and family offices. These 33 clients are based in Taiwan, Japan, Korea, China and Singapore in addition to Hong Kong.

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 45,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業45,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.


    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com