Black-owned Private Equity firm East Chop Capital Delivers 328% ROI from its First Sale and Returns $1M to Investors
East Chop Capital, a Black-owned private equity firm with $7M in assets under management, announces a 328% ROI on its first real estate sale, and the return of $1M to investors. Its inaugural fund is on track to deliver 20% annual returns, net of fees. Its Inaugural Fund is well-positioned in the thriving vacation rental home market.
NEW YORK, Nov. 11, 2021 /PRNewswire-PRWeb/ -- East Chop Capital, a Black-owned private equity firm with $7M in assets under management, announces a 328% ROI on its first real estate sale, and the return of $1M to investors. Its inaugural fund is on track to deliver 20% annual returns, net of fees. The firm will further expand its portfolio as it capitalizes on the intersection of: (1) real estate, (2) the rebound in travel, and (3) the future of work in which hybrid is the new normal. Its vacation rental portfolio serves thousands of guests annually and generates seven-figure revenue across seven states.
East Chop Capital is helping to close the wealth gap by providing solid returns to its diverse LP base of 91% BIPOC, 9% White, and 18% Women investors. In January 2021, the firm announced the successful closing of its inaugural $4 million fund, which was created to capitalize on the thriving $114 billion global vacation rental market. However, for Co-founders and General Partners Calvin L. Butts, Jr. and Carrington M. Carter, it is not just about making money.
"East Chop Capital is a very different type of private equity firm, committed to providing the best combined financial, educational, social returns," said GP Calvin L. Butts, Jr. "Generating financial returns is the expectation, but we add additional value through education, access to other private equity and venture capital investments [deal flow], and unprecedented social and networking opportunities, such as annual investor retreats, and our summer reception series that we hosted on Martha's Vineyard this past August. We always overdeliver on our Commitment."
As the firm scales with the launch of future funds, it hopes to attract the attention of larger, institutional investors and family offices. Considering the nationwide focus on environmental, social, and governance initiatives (ESG), as well as other impact investing initiatives, East Chop Capital is well-positioned to help address economic disparities and the lack of access to capital in America.
"With the East Chop Capital community that we've built, we have a clear line of sight into raising $5-$10 million for future funds from our existing LP base and others who have expressed interest in supporting us," said GP Carrington M. Carter. "We have a strong track record and are proven operators and leaders, so we welcome partnership and support from institutions and family offices."
To learn more about East Chop Capital and to stay connected, visit http://www.eastchopcapital.com and follow on LinkedIn and Instagram.
Media Contact
Perri duGard Owens, duGard Communications, 615-823-4020, [email protected]
SOURCE East Chop Capital
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