Penn Park Capital Management Announces Temporary Closure of the Penn Park Digital Growth Fund to New Investors Following Unprecedented Demand and Record-Breaking Performance in the First Half of 2024.
LONDON, UK / ACCESSWIRE / July 12, 2024 / Penn Park Capital Management Limited, a leading European fund manager with offices in London and Luxembourg, is pleased to announce a significant milestone for the Penn Park Digital Growth Fund. The fund has experienced extraordinary demand over the past 12 months, driven by massive interest in the digital asset landscape following ETF approvals in the sector.
Over the last three months, the Penn Park Digital Growth Fund has achieved record-breaking returns, marking one of its most successful quarters to date. This remarkable performance underscores the fund's strategic approach and the growing confidence in digital assets among investors.
In light of this exceptional demand and the fund's impressive performance, Penn Park Capital Management has made the strategic decision to temporarily close the Penn Park Digital Growth Fund to new investors. This measure is taken to ensure the fund continues to deliver high levels of performance and to manage the liquidity challenges associated with digital assets, which tend to have lower liquidity compared to traditional asset classes.
The fund will be capped at $500 million until further notice. This decision will be reviewed periodically, considering improvements in liquidity or withdrawals by existing investors. At such time, Penn Park Capital Management will evaluate the potential to reopen the fund to new investors.
"We are thrilled with the performance of the Penn Park Digital Growth Fund and the overwhelming interest from the investment community," said Daniel King, Senior Analyst at Penn Park Capital Management Limited. "Our primary goal is to maintain the integrity and performance of the fund for our current investors. By capping the fund, we can ensure that we continue to manage it effectively and capitalize on the exciting opportunities within the digital asset space."
Penn Park Capital Management remains committed to delivering exceptional investment solutions and will continue to monitor market conditions closely. The firm looks forward to providing updates on the status of the Penn Park Digital Growth Fund and potential opportunities for new investors in the future.
About Penn Park Capital Management: Penn Park Capital Management is a leading investment firm specializing in fund management, dedicated to delivering long-term returns for its clients. Concentrating on disruptive industry sectors and robust risk management, Penn Park Capital Management employs a disciplined approach to investment. By leveraging extensive market expertise and rigorous research, the firm identifies compelling opportunities across global markets.
For media enquiries, please contact:
Mrs. Esme Mcalley-Burnside (Public Relations Officer)
Penn Park Capital Management Ltd
Email: esme.burnside@pennparkcapital.com
Web: www.pennparkcapital.com
Tel: +44(0)20 3468 0662
Address: 8 St James's Square, London, SW1Y 4JU, England
SOURCE: Penn Park Capital Management
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