Spartacus Readies Multi-Strat Offering

Jun 7 2007 | 11:19am ET

Cyprus-based Spartacus Private Equity Group is prepping the launch of a multi-strategy fund in July. Dubbed the Spartacus Capital Growth Fund, it will make investments in emerging market real estate projects and pre-initial public offering concerns, as well as other private equity and hedge funds.

The fund’s bread and butter will be the emerging markets real estate space, which will make up 60% of its portfolio. It currently has commercial and residential projects underway in Sweden, Istanbul, Turkey, and Beirut, Lebanon. On the venture capital front, the fund plans to invest in a location-based technology concern in Sweden as well as renewable energy company in Norway. In addition, Spartacus is currently looking to invest in both a p.e. fund with a focus on Russia, and an absolute return manager. 

Investors in the fund include passive investors, entrepreneurs, property developers and investment groups, according to founder Christopher Prior, who said the idea behind the fund is to bring these networks together to get access to deal flow. “It’s like a peer-to-peer approach in a sense because we’re leveraging off the experience and success of a multitude of people who are spread geographically,” he said. “A large part of the investor bracket will bring deal flow to the fund and this saves us a fortune and time on due diligence.”

The fund’s strategy belies its initial launch capacity, which is somewhere in the neighborhood of €10 million (US$13.5 million) to €15 million (US$20.3 million), according to Prior. 

The Capital Growth fund charges 2% for management and 25% for performance with a €75,000 (US$101,000) minimum investment requirement.

Prior has been involved in the venture capital industry for over a decade having worked at First Swiss Financial Management, a Zurich–based boutique VC firm, before founding Spartacus last year.

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