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Black-owned PE firm East Chop Capital Raises USD9m for second vacation rental home fund

East Chop Capital, a private equity firm with USD20 million in assets under management, has raised USD9 million for its real estate fund that is focused on the USD112 billion global vacation rental market.

This is the company’s second fund, capitalising on the intersection of real estate, the rebound in travel, and the future of hybrid work. The capital raised thus far is more than double the size of the first fund, with investor commitments received in 85 per cent less time.

East Chop Capital’s portfolio of luxury vacation rental homes is marketed to travellers under the Getaway Society brand, and is spread across the US, including Martha’s Vineyard, Hilton Head, Orlando, Gatlinburg, Virginia Beach, Broken Bow (Oklahoma), Banner Elk (North Carolina), and Port Aransas (Texas). The firm’s first fund had two triple-digit ROI exits in 2021, 328 per cent and 217 per cent returns respectively, returned nearly USD2 million to its investors, and is on track to deliver 20 per cent annual returns, net of fees.

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