30 July 2024
Westbrooke Alternative Asset Management
Dino Zuccollo
Westbrooke Alternative Asset Management has successfully raised £15 million (over R350 million) in the second quarter of 2024 for its flagship private debt fund, Westbrooke Yield Plus.
With north of £30m raised in the first half of 2024, it underscores the growing appeal of private debt as an attractive investment for South African investors.
“This year is a testament to the robust demand for private debt investments and investors’ confidence in Westbrooke’s ability to deliver stable, predictable and attractive hard currency returns. Westbrooke Yield Plus now boasts a six-year track record of performance and has never had a down month,” said Dino Zuccollo, head of investor solutions at Westbrooke.
“The fund now manages over £170 million in assets and continues to achieve a net yield of c.9% in GBP – significantly above that currently achieved by comparative cash, bonds and fixed income investments.”
The raise is in line with Westbrooke’s commitment to providing a diversified range of capital preservation-focused investment solutions that are tailored to a South African client’s needs.
“Private debt is one of the world’s fastest-growing alternative asset classes, with global assets under management now more than $2.1 trillion. Within this, direct lending is one of the most prevalent strategies and is the market subset in which Westbrooke Yield Plus operates. Our diversified portfolio comprises approximately 50 senior loans mainly secured against property in the UK and surrounds.”
This quarter, Westbrooke Yield Plus enhanced accessibility by removing initial lock-in periods, which allows investors greater flexibility and liquidity.
“Our Q2 performance is a clear indication of the strength of our investment strategies and the expertise of our team,” added Zuccollo.
Westbrooke Alternative Asset Management has established itself as a leader in the alternative investment space, offering a range of investments including private debt, hybrid capital, real estate and private equity in South Africa, the UK and the USA.
The firm’s focus on identifying and capitalising on high-quality investment opportunities has enabled it to deliver consistent returns and build long-term value for its investors with total assets under management of R12bn.