Galileo Capital Management is preparing to launch an investment vehicle focused on the LGBT (lesbian, gay, bisexual and transgender) community.
Funds dedicated to one investment strategy are typically based on current market trends. Paulson launched a gold-only fund, for example, and Optima Fund launched a farmland-only fund because of current fears of rising inflation. Commodities are a hedge against a sinking dollar.
But the LGBT community isn’t going anywhere.
And the LGBT consumer business is huge; it’s worth nearly $700 billion and is projected to reach $845 billion by 2011, according to the National Gay and Lesbian Chamber of Commerce.
A survey found that 80% of LGBT companies require capital for expansion, 100% of LGBT companies have expansion plans and 100% of LGBT companies would consider mergers, acquisition and third party investment, according to HedgeCo.
Hailing from the likes of Goldman Sachs, Prudential Financial, Inc., Bankers Trust and Chase Manhattan Bank, Anders Jacobsen and Paul Thompson plan to launch LGBT Capital in two parts.
The first is a specialist Corporate Advisory and Investment Management Unit focused on the LGBT (lesbian, gay, bisexual and transgender) consumer market.
The second will provide corporate advisory and business development services for companies that serve the LGBT consumer sector.
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