Global Alternatives (GA) has appointed Brendan Bradley as non-executive chairman ahead of its launch of Prop-X, a cross-border property exchange that will list securities originated by the GA-owned Property Crowd platform – offering access to crowdfunded investments.
Also listed will be private equity and debt issues backed by investment grade property assets of institutions. GA argues this will enable investors to access the equivalent of real-time liquidity equivalent to an exchange order book.
The Property Crowd platform is offering investments at a 10%-12% internal rate of return, via UK regulated ISA accounts (individual savings accounts are designed to offer UK taxpayers a tax efficient wrapper around investments).
Bradley said: “Crowdfunding platforms have mushroomed as investors seek higher returns. Global Alternatives’ approach to institutional grade secured lending, with segregated client funds and securities held with independent custodians, is a refreshing race to the top rather than the bottom in terms of credibility.”
“Prop-X is a logical extension of Property Crowd, where users can source genuine secondary market liquidity, and allied to this is the concept of a prime broking type infrastructure around the trade which borrows from client protection models that are prevalent in more traditional asset classes.”
“The incumbent exchanges have not been so good at building alternative asset class liquidity, and with the demise of bank liquidity in a number of areas, this may not change any time soon. Therefore, there is a requirement to find alternative liquidity providers that can pick up the slack.”
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