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 — 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/
SOURCE East Chop Capital
