
Red Ribbon Asset Management Plc (Red Ribbon) established in 2007, is a financial services group developing businesses based on three strategic pillars whose combined capitalisation currently totals c. £80 million. The Multi-Asset Impact Investment (MII) Note provides diversified exposure to Red Ribbon’s portfolio of direct investments and funds, complemented by a discretionary ESG strategy guided by BlackRock®.
The Note is structured with a standard 5-year lockup but bespoke terms and conditions are also negotiable offering liquidity between years 1 to 5. The Note returns are comprised of - both income and capital growth: it pays an annual fixed coupon of 8.75% while Note holders, additionally, gain exposure to the capital growth of the underlying projects and funds, realisable by conversion into ordinary shares at a Red Ribbon IPO. The estimated cash-on-cash return of 2.1 times is based on an IPO valuation of 12 times projected EBITDA in Year 7.
Summary Terms | |||
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Instrument | Pass-through Securitisation Notes | Secondary Market Liquidity | Freely transferable or by arrangement with Lead Arranger/Borrower |
Issue Size | Up to €300,000,000 | Conversion | Underlying loan convertible into Red Ribbon ordinary shares on IPO. If, on conversion, EUR proceeds are less than the Loan Amount, the Borrower will make up shortfall on FX |
Date of Issue | July 2023 | Governing Law | Luxembourg |
ISIN | XS2621331508 | Borrower | Red Ribbon Asset Management Plc |
Term | 7 years with a 5-year lock-up; exit in years 1 to 5 available by negotiation | Calculation Agent/Lead Arranger/ Security Agent | Shard Capital Partners LLP |
Minimum Subscription | €100,000 | Note Issuer | Fenchurch Alternatives SARL |
Denomination | €1,000 | Transaction Counsel | Ogier |
Coupon | 8.75% per annum paid until conversion event (Red Ribbon IPO) or final maturity | Registrar | BNY Mellon |
Note Assets & Security | Convertible Loan: direct, unconditional, unsubordinated and unsecured obligations Floating charge debenture on all Red Ribbon assets | Clearing/Settlement | Crest/Euroclear/Clearstream |
Summary Terms | |||
---|---|---|---|
Instrument | Pass-through Securitisation Notes | Secondary Market Liquidity | Freely transferable or by arrangement with Lead Arranger/Borrower |
Issue Size | Up to £300,000,000 | Conversion | Underlying loan convertible into Red Ribbon ordinary shares on IPO. If, on conversion, EUR proceeds are less than the Loan Amount, the Borrower will make up shortfall on FX |
Date of Issue | July 2023 | Governing Law | Luxembourg |
ISIN | XS2621331680 | Borrower | Red Ribbon Asset Management Plc |
Term | 7 years with a 5-year lock-up; exit in years 1 to 5 available by negotiation | Calculation Agent/Lead Arranger/ Security Agent | Shard Capital Partners LLP |
Minimum Subscription | £100,000 | Note Issuer | Fenchurch Alternatives SARL |
Denomination | £1,000 | Transaction Counsel | Ogier |
Coupon | 8.75% per annum paid until conversion event (Red Ribbon IPO) or final maturity | Registrar | BNY Mellon |
Note Assets & Security | Convertible Loan: direct, unconditional, unsubordinated and unsecured obligations Floating charge debenture on all Red Ribbon assets | Clearing/Settlement | Crest/Euroclear/Clearstream |
Direct Investments
Real Estate



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Regulated Funds
Real Estate
Red Ribbon
Phoenix Green
Hotel Fund
Investing in repositioning distressed and new hotel assets and re-certifying them as net zero
Launched: Q2 2023, Target Size: £300m
Red Ribbon
India Real Estate
Fund
A multi asset real estate fund with a regional focus in Indian key growth markets
Launch: Q4 2023, Target Size: €300m
Red Ribbon
B&S UK Property
Opportunity Fund
UK property fund with a focus on opportunistic investment strategies
Launch: Q4 2023, Target Size: £300m
Listed Equities
Red Ribbon
Earth Fund
Daily NAV fund, taking positions in ESG positive listed equities and short positions in ESG negative companies
Launch: Q4 2023, Target Size: £300m
Red Ribbon
Indian Equities
Fund
A daily NAV, long-only multi manager fund investing in Indian equities
Launch: Q4 2023, Target Size: £300m
Why Red Ribbon Multi Asset Impact Investment Note?
- Red Ribbon has three operating platforms: Real Estate, Fintech and Funds based on three alpha generating strategies: Impact Investment, EmergingTech and Emerging Markets
- The strategy is underpinned by the belief that measurable environmental and social impact - while delivering uncorrelated returns - is only possible through active forward and backward integration of business models, incubated with clearly defined ESG deliverables
- The business model is biased definitively towards Emerging Markets with the application of Emerging Technologies that enhance efficiency, transparency, security and customer experience
- Income: an annual coupon of 8.75%
- Capital Growth: realised from Red Ribbon IPO
- Total Return: estimated cash-on-cash return of 2.1x based on Red Ribbon's IPO valuation at 12x EBITDA in Year 7
- Definition: Investing in projects that deliver a measurable environmental and social impact whilst delivering above market rate returns
- Components: Planet, People, Profit - The Triple "P" Bottom line
- Objective: To be part of, as well as assisting in building resilient economies within emerging markets through well-governed businesses which strive to reduce environmental impact whilst creating value for the society at large
The Team
A cohesive team, working together for 15 years with a well-established operations infrastructure with circa 100+ members spread across the UK, Gibraltar, Netherlands, Germany, Mauritius and India.
Team
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Suchit Punnose , Founder & Group CEO
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Arvid Pedersen , Vice Chairman
Arvid Pedersen
Vice Chairman- With more than 30 years of experience in international investment, Arvid works closely with individuals and businesses within the wealth management sectors.
- His focus is on driving change across both traditional and non-traditional organisations and advising on processes and structure for small firms and start-ups.
- He has more than a decade of experience in sales, administration, and regulatory compliance. Hence, is proficient in setting up processes, ensuring they work efficiently and comply with regulatory requirements.
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Jay Krishnan , COO
Jay Krishnan
COO- Jay has over 25 years of experience as an international executive and latterly as an entrepreneur with multi-sector experience
- He has worked with startup entrepreneurs in executing growth strategies. Jay has worked extensively on building teams for clients and his own enterprises and has also been consulting and executing projects related to product design, business process analysis, tech stack development and change management
- Jay brings a fine balance of entrepreneurial passion as well as the discipline and diligence of an experienced senior corporate management executive. Outside work he is an avid traveller and enjoys music and books
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Ryan Tewari , Investment Committee Member
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Anna-Larisa Snijders , Managing Director
Anna-Larisa Snijders
Managing Director- 15 years of financial sector experience, 5+ years in banking and asset management with APX-ENDEX, ING and APG Asset Management
- Previously Senior Fundraising Manager at CORUM Asset Management
- MSc in International Public Management from the Erasmus University of Rotterdam. Her thesis focused on Microfinance in India
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Vishal Puri , Group Financial Controller
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Victoria Mcdonald , Head of Operations Executive Office
Victoria Mcdonald
Head of Operations Executive Office- Victoria manages and oversees all aspects of the Group CEOs office including corporate finance transactions, office administration, corporate actions, documentation and stakeholder management.
- Victoria has extensive experience in management, operations, marketing, executive assistant and administration roles within a variety of industries including financial services, nuclear, oil and gas, retail and automotive. Working in highly regulated industries has provided Victoria with exposure to the robust processes and procedures which must be adhered to, ensuring her proficiency in providing stewardship and promoting strong collaboration between stakeholders.
- Experience and success in coordinating across multiple projects delivering results for the business whilst managing various conflicting timelines and deadlines
Business Divisions
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Fund Management
Fund Management
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John Sheath , Chairman
John Sheath
Chairman- John is an internationally experienced Chartered Director and Independent non-executive director (NED). John focuses on Risk & Corporate Governance, Business Development and Business Improvement, having served several blue-chip clients in these areas as well as a NED for a variety of regulated businesses. Whilst maintaining an extensive contact database with significant benefit to his roles, he is also known for creating the only Isle of Man (IoM) independent register for NEDs, serving the island as a philanthropic venture
- His wide experience both locally and internationally gives John an insight that allows him to add great value, whether as a Board member or consultant. John is resident in the Isle of Man and as a NED represents regulated businesses and listed funds and is also passionate about technology
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Anthony Frieze , Managing Director
Anthony Frieze
Managing Director- Anthony Frieze has spent most of his career – 20 years – in banking at JPMorgan, BNY Mellon, Deutsche Bank and Allianz/Dresdner Kleinwort, originally as a stockbroker and then senior product specialist and relationship manager in agency repo and collateral management. His clients included some of the world’s largest sovereign wealth funds as well as a wide range of leading central banks and governmental and international investors across Europe, Asia Pacific and the Middle East
- In his time since leaving the City, he has been CEO of a start-up discretionary macro futures fund and concurrently became a specialist in placement advisory and capital introduction, with a focus on alternative investments. His relationship network has been built around the UK-based family office and wealth advisory world
- He has been largely based in London but also had postings in Hong Kong and New York. He was for several years the financial services practice leader at a start-up PR agency where he advised offshore financial centres and the Alternative Investment Management Association
- He graduated in Modern History from Balliol College, Oxford and was President of the Union Debating Society, alongside the likes of Boris Johnson and Michael Gove. He stood for Parliament in the 2005 General Election
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William Prescott , Chief Impact Investment Officer
William Prescott
Chief Impact Investment Officer- William is an entrepreneur with an eye for emerging technology markets and has founded and successfully exited a number of technology-based ventures. He is an experienced mentor, business consultant and investor in early-stage ventures
- His expertise includes product, process and business model innovation. Formally qualified with Masters Degrees in Physics, Microelectronics, Telecommunications and with an MBA from the University of Exeter Business School, his focus is on innovation system’s architecture, impact investment, sustainability and business model innovation
- Driven by a belief that vibrant, healthy and resilient economies must be led by businesses that align their core purpose to the creation of positive social and environmental outcomes, William collaborates with colleagues at the University of Exeter and worldwide to explore business models, strategies and processes aimed at helping businesses create socio-economic value
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George Felipes , EIF Director
George Felipes
EIF Director- George has 33 years of hands-on experience in the finance industry in Gibraltar where he has held various senior management roles. He started his career with Mobil Oil in Spain (Madrid) where he worked for 8 years, initially as a Financial Analyst and subsequently as the IT Manager of the Spanish organisation. In 1988 he returned to his native Gibraltar working for American International Group where he was responsible for setting up two investment funds. He then moved to Hambros Bank (Gibraltar) Limited as Chief Operating Officer and later joined ABN AMRO Bank N.V. – Gibraltar as CFO and COO.
- In 2008 George took on a role as CEO for Gibraltar Car Parks Limited. During his tenure the company grew as it took on responsibility for all aspects of parking in Gibraltar. In 2020 he retired from government service and since then has been involved in a variety of Gibraltar registered funds.
- George is an active member of GFIA (Gibraltar Funds & Investments Association) and is also licensed by the GFSC to act as an Experienced Investor Fund director.
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Franco Cassar , Director
Franco Cassar
Director- Franco was in banking for 35 years, originally at NatWest London for 23 years, in Corporate and Retail and from 1996 in Gibraltar as Country Manager. From 2000 – 2006 he was at SG Hambros Private Bank and then Barclays Gibraltar 2006-2013.
- He was MD at Abacus Financial Services Ltd for two years. Since 2015 he has been self-employed as a Finance and Management consultant and is an INED at Turicum Private Bank Ltd (Chair, Risk Committee), Evolution Insurance Company Ltd (Chair, Risk & Audit Committee) and Mulsanne Insurance Company Ltd (Chair, Risk Audit & Compliance Committee), executive director and shareholder of Bureau de Change operation (Gannet Trading Ltd T/as MoneyX). He is also an INED and Chair of the Audit Committee of Forafric Global PLC, Gibraltar’s first Nasdaq listed company and a Director of Gametech Marketing Ltd, a marketing subsidiary of LeoVegas Malta.
- He has extensive knowledge of the financial, commercial and regulatory sectors in the UK, Gibraltar and Malta. He served as an executive Board member of the Gibraltar Bankers Association 1998-2004 including two years as president; nine years on the Board of the Gibraltar Financial Services Commission (2003 -2012) and two years as a Board member of the Gibraltar Finance Centre Council (2002-2004).
- Franco served 14 years on the Board of the Gibraltar Chamber of Commerce, including as Hon Secretary (2001-2015). He is a member of the Specified Appointments Commission and a Justice of the Peace.
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Direct Investments
Direct Investments
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Modulex - Ajay Palekar , Managing Director
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Eco Hotels India - Vinod Tripati , Executive Chairman
Vinod Tripati
Executive Chairman- Executive Chairman, Sharad Fibres & Yarn Processors. Over 40 years of experience in taxation, finance, and administration.
- Previously worked as the Commissioner of Income Tax, where his last posting was in Mumbai.
- Previously President and group director at Reliance Capital Limited for 14 years. Has also worked as Auditor with the office of the Comptroller and Auditor General of India
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Substantia - Sunny Chowdhry , CEO
Sunny Chowdhry
CEOSubstantia Real Estate
- 25 years of experience in Indian real estate
- Former Associate Director of Country Garden Holdings with presence in 13 countries as RISLAND, a circa $160 bn listed enterprise
- Former JLL Operations Head, Retail Malls
- Former Head of the family office with $1 billion of real estate assets
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Ribbon - Ashesh Jani , CEO & Co-Founder
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Crowd Invest - Nakul Garg , CBO & Co-Founder
Nakul Garg
CBO & Co-FounderCrowdInvest
- Nakul Garg has an extensive background in business development and crowdfunding. With over 5 years of experience in fundraising, business and financial consultation, his expertise lies in developing and maintaining strong client relationships
- Nakul has developed his experience in investment management, corporate accounts and strategic growth
- Dedicated to being a brand ambassador, Nakul recognises the importance of representing a company’s brand, values to clients and internal stakeholders
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Ribbon Life - John Sheath , CEO & Co-Founder
John Sheath
CEO & Co-FounderRibbon Life
- John is an internationally experienced Chartered Director and Independent non-executive director (NED). John focuses on Risk & Corporate Governance, Business Development and Business Improvement, having served several blue-chip clients in these areas as well as a NED for a variety of regulated businesses. Whilst maintaining an extensive contact database with significant benefit to his roles, he is also known for creating the only Isle of Man (IoM) independent register for NEDs, serving the island as a philanthropic venture
- His wide experience both locally and internationally gives John an insight that allows him to add great value, whether as a Board member or consultant. John is resident in the Isle of Man and as a NED represents regulated businesses and listed funds and is also passionate about technology
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Advsr - Krishika Parekh , CBO & Co-Founder
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Funds
Funds
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Phoenix Asset Management - Amran Raja , Chief Development Director
Amran Raja
Chief Development DirectorPhoenix Asset Management
- 30 years' experience in the construction industry
- Overseen the delivery of 11.8 million sq. ft. of commercial developments, including Lehman Brothers HQ in Canary Wharf
- Non-Executive Board Director and Chair of Asset Management Committee for Homes For Islington (HFI) ’09 – ’11
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Phoenix Asset Management - Angus MacDonald , Founder & CEO
Angus MacDonald
Founder & CEOPhoenix Asset Management
- Worked in the hospitality sector for c. 25 years, with experience in hotel operations, development, appraisal, and financing
- Extensive network/relationships within all the main hotel operating companies
- Developed a portfolio of new build hotels for £550 million, and sold to Blackstone Group
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Phoenix Asset Management - Anish Aggarwal , CEO
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B&S Capital - Shiv Popat , CEO & Co-Founder
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B&S Capital - Bharat Thakrar , Chairman & Co-Founder
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India Real Estate - Sunny Chowdhry , Co-Founder & Director of Projects
Sunny Chowdhry
Co-Founder & Director of ProjectsRed Ribbon India Real Estate
- 25 years of experience in Indian real estate
- Former Associate Director of Country Garden Holdings with presence in 13 countries as RISLAND, a circa $160 bn listed enterprise
- Former JLL Operations Head, Retail Malls
- Former Head of the family office with $1 billion of real estate assets
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The contents of this website may not be reproduced, in whole or in part, or delivered to any other person without the prior written consent of Red Ribbon Asset Management Limited (“Red Ribbon”). This website is for informational purposes only and is not intended as an offer to sell or a solicitation of a purchase of any investment. Applications should only be made based on the Issue Terms and Private Placement Memorandum (PPM) which are available from authorised distributors.
This website is directed exclusively at Professional Clients and Eligible Counterparties and should not be relied upon by Retail Clients (all as defined by the FCA). Furthermore, this website should be read in conjunction with the Issue Terms and PPM. Investors should take investment advice from their financial advisors before making a decision to invest. Investors in the Note should understand that the liquidity of the secondary market in the notes cannot be guaranteed.
Shard Capital Partners LLP’s ("Shard Capital Partners") ESG Asset Allocation Model portfolios are advised and provided by Shard Capital Partners and utilise asset allocation guidance provided to Shard Capital Partners by BlackRock, Inc. and its affiliates (“BlackRock”). BlackRock does not provide any service or product to you and has not considered the suitability of its asset allocation against individual needs, objectives and risk tolerances for investors. As such, BlackRock’s assets allocations do not constitute investment advice or an offer to sell or a solicitation of an offer to buy any securities.
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This website must be read in conjunction with the Issue Terms and PPM. Investments of this nature carry risks to your capital, including lack of liquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Please seek independent advice as required as Red Ribbon Asset Management Plc does not give investment or tax advice.
DISCLAIMER: The contents of this website may not be reproduced, in whole or in part, or delivered to any other person without the prior written consent of Red Ribbon Asset Management Limited (“Red Ribbon”). This website is for informational purposes only and is not intended as an offer to sell or a solicitation of a purchase of any investment. The information above is directed exclusively at Professional Clients and Eligible Counterparties and should not be relied upon by Retail Clients (all as defined by the FCA). Furthermore, this website should be read in conjunction with the Note's Private Placement Memorandum (PPM). Investors should take investment advice from their financial advisors before making a decision to invest. Investors in the Note should understand that the liquidity of the secondary market in the Notes cannot be guaranteed. Applications should only be made based on the Pricing Supplement and PPM which are available from authorised distributors.