Alpha Growth PLC (LSE:ALGW, OTCQB:ALPGF) executive chair Gobind Sahney described 2022 as “a very productive year”, in which assets under management nearly doubled to around US$700mln.
The funds company, in a statement, today reported results for 2022, with the BlackOak Growth Fund delivering a 7.20% return for the year.
Alpha Growth's target is to reach US$2bn in AUM by 2025 is well underway, with the company completing two acquisitions in 2022 and launching a new fund targeting a different category of investor.
Chad Schafer, a noted expert in structured securities, joined the company in September as head of affiliated funds and has already contributed to its growth.
In October, Alpha Growth appointed Allenby Capital Limited (LSE:CAPD) as its sole broker, giving the company access to a diverse range of investors.
The company also successfully acquired the Guernsey-based Alpha International Life Assurance Company and Barbados-based Havelet Assignment Company Ltd., adding US$275m and US$9m in AUM, respectively.
"2022 was a very productive year for Alpha Growth which saw AUM almost doubling to circa US$700m, bringing us significantly closer to achieving our stated goal of managing over US$2bn of AUM by 2025,” Sahney said.
“During the year, we completed two significant acquisitions and launched a significant new fund which we expect to attract a new category of investor into the company."