Black Sea Property Fund adds protection


Development Capital Management, the Jersey-based property hedge fund manager, has added capital protection to its latest property fund. The Black Sea Property Fund will invest mainly in Bulgarian Black Sea holiday residences, but it will also buy residential property in other areas of Bulgaria, including ski resorts.

In addition, the fund will allocate up to 10% of its assets to land and property-backed joint ventures, which may include ski resorts and golf course projects.

Capital protection is

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