Some of the people involved with Bailiwick Investments. Seated, left to right, David Chan of Cenkos, non-executive chairman Jurat David Lowe and Cenkos CI Investment Management MD Mark Bousfield. Standing: Ozannes lawyer Darren Stephens, and investment committee members Peter Tom, Jon Ravenscroft, Tom Scott and Tom Scott junior. (Picture by Tom Tardif, 0693761)
A company which has offered to help the States fund major capital projects has already started investing in the island.
Bailiwick Investments, a Guernsey closed-ended investment company managed by Cenkos Channel Islands Investment Management, has done so in two properties, Commerce House and Nelson House at Admiral Park.
‘We do expect there will be a quiet time initially but the properties we have at the moment make sure there is the money coming in,’ said Mr Scott.
‘This is the acorn for the future. It’s not the finished product.’
The company was admitted to the listings of the Channel Islands Stock Exchange in December, following the raising of £26.6m. from private investors and is targeting cash-plus-inflation returns.
Its board of directors is made up of Jurat David Lowe, John Henwood and Mel Carvill, while its investment committee has on it Tom Scott and his son, also Tom, Peter Tom and Jon Ravenscroft.
Mr Ravenscroft said the company had brought a well-respected group of people together, all of whom had put in substantial money themselves.
‘It’s almost impossible to raise money in the City at the moment, but we have managed it.
‘All the investors in the £26.6m. we have raised so far have got local connections.’
Mr Scott added: ‘We have had good support from our investors.
‘It’s not just a matter of raising funds, some of them are very close to us and it’s a big commitment from them and we would like to thank them for the trust they have in us.’
Article posted on 6th January, 2009 - 2.30pm
2 Article Comments
Cenkos? Beware of greeks bearing gifts.
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Jackie
It’s clear that Mr Tostevin who penned the article has litle idea of the amount of liquidity that is awaiting investment or that such investment comanies want to invest in the safest areas.
It is reckoned that 10 of the bigger equity capital providers are sitting on about £140 billion of cash.
It is clear that places like the Guernsey public sector, where any risk is minimal will be atractive to such investors.
It is equaly clear that these good samaritans will dress up their “make a good return for us” shemes in such a way as to appear they are doing you a favour.
To quote tou Jeackie from another thread “its just business”
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