Investment News
New Providence Capital Management Partners, Ltd.- Second Quarter Email
We are pleased to announce 2nd Quarter Results for our two Mortgage Funds. Even with general financial market concerns both fund are performing very well and there has been no loss of capital to date. For the period of March 1, 2010 to May 31, 2010, Fund I and Fund II total net annualized return to our investors was 11% and 13% respectively.
We recently launched Fund II due to our initial fund having already been fully funded. Our initial closing for Fund II was in April of this year and we experienced a subscription level ahead of projections. Lately, our security and interest rates are more favorable for the lending opportunities we are evaluating and we expect the climate to remain very favorable for the funds.
We have taken up many new subscriptions and have had two capital calls thus far for Fund II. If you are interested in a copy of the Fund II presentation and offering memorandum, or if you are interested in increasing your present commitment, please contact us while we still have open subscriptions available.
