Global Feeder LP is an open ended feeder fund that enables non-UK investors to gain exposure to the Lothbury Property Trust (LPT), a fund which invests in UK real estate.
Global Feeder LP is Jersey registered limited partnership. Non-UK investors can invest in either of 2 classes of interest in Global Feeder LP, Class A or Class B. Subscriptions for a Class A interest are used to acquire shares and debt in Lothbury Global Feeder Limited, (Global Feeder Co), a Jersey company which invests solely in LPT. Subscriptions from Class B interests are used to invest directly in LPT. The structure is illustrated in the diagram below.
Global Feeder LP is intended to provide investors with the following:
- The opportunity for non-UK investors to gain exposure to LPT by investing in LPT via a limited partnership (Global Feeder LP), which may have regulatory advantages in some jurisdictions compared with a direct investment in LPT;
- Class A investors receive income returns in the form of interest and dividends from Global Feeder Co. Subject to obtaining certain UK tax reliefs, which may or may not be available, the effective UK tax charged on income received by Global Feeder Co may be lower than the UK tax charged on income received directly from LPT by a non UK investor. Tax filings in relation to income from LPT would be made by Global Feeder Co;
- Class B investors invest via Global Feeder LP directly in LPT and are treated for UK tax purposes as receiving income from UK property, subject to UK tax. Credit for this tax may be available against any tax payable in their country of residence (depending on the rules which apply in that country);
- Global Feeder Co and LPT will claim exemption from UK tax on capital gains on disposals of UK real estate or indirect interests in UK real estate;
- Currency hedging will be available for investors in Class A or Class B interests who require their returns in their domestic currency.
Further information is available from (LIM). Potential investors can apply for a copy of the Lothbury Global Feeder LP Offering Document and Limited Partnership Agreement. Please note that the availability of any tax reliefs or treatment will depend on investors’ circumstances and on continuing conditions being satisfied by Global Feeder LP and LPT and information provided by the Investors. The tax and regulatory treatment of Global Feeder LP is complex. Investors are recommended to take their own detailed advice.
Global Feeder LP is a limited partnership private fund registered in Jersey and an Alternative Investment Fund for the purposes of the AIFMD. LIM is the Alternative Investment Fund Manager (AIFM) to Global Feeder LP and LPT. LIM is manager of Global Feeder Co.
LIM is responsible for portfolio and risk management of LPT and Global Feeder LP, which includes responsibility for marketing interests in Global Feeder LP. LIM has delegated responsibility for marketing interests in Global Feeder LP in Japan to Lothbury Global Feeder GP Limited, the General Partner of Global Feeder LP.
Notice to potential Japanese investors
Disclosure of Information by Specially Permitted Business Notifying Person
Pursuant to applicable Japanese law, please click the appropriate link to view the required public disclosures, form 20-2, form 21-3 (for year ending 31 December 2021) , and form 21-3 (for year ending 31 December 2022) with respect to Lothbury Global Feeder GP Limited’s Article 63 Notification.
