Investment Programmes

Maximum diversification combined with minimum administrative expense.

For investors seeking to improve the return potential of their portfolio with private equity, private credit or infrastructure, investment programmes represent an attractive solution. With an investment programme the investor makes broadly diversified commitments to high-potential target funds, which provides efficient exposure to a large number of transactions.

Access through investment programmes

Broad diversification reduces the risk of loss demonstrably and stabilises overall portfolio earnings. At the same time the investment structure opens the way to alternative investments (which generally have restricted access), without the great administrative expense of a direct investment.

Our investment programmes have a number of advantages:

  • They enable a broad diversification of risk and therefore low overall return volatility by investing in different regions, sectors and vintage years.
  • The risk of choosing underperforming managers is reduced by our professional, systematically structured fund selection process.
  • As established asset managers with great experience and a wide network of fund relationships we give investors access to the leading fund managers with outstanding track records, whose funds rarely accept new investors.
  • Golding Capital Partners provides services including fund administration and fund reporting, which reduces the administrative burden for investors considerably.

Equity investments also entail risks:

In addition to the return opportunities, an investment in a private equity programme also entails significant legal and economic risks which may extend to the total loss of invested capital. 

  • It cannot be guaranteed that any particular return or income targets are met. Past returns and forecasts are no guarantee for future success. 
  • You must assume that the investment programme is a “blind pool”, i.e. that has not yet made its full range of commitments to target funds at the time you invest.
  • You cannot return the interests in the investment programme. The interests are typically also not publicly traded and so can generally only be sold by you during the lifetime of the investment at a substantial discount to market and/or book value.
  • To the extent that the investment programme holds fund interests in a different currency from the reference or accounting currency there is an exchange rate risk.
  • You must assume that the tax implications of the different jurisdictions in which the investment programme operates are not known at the time of your investment and may also change over the lifetime of the investment programme. 
  • Investors bear the tax and regulatory risks associated with the investment programmes and the investments they make.

Detailed comments on the risks of the investment programme can be found in the respective issue document.