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West Palm Beach (HedgeCo.net) – Alternative investment management firm and Hedge Fund Launch of the Year Award Winner, AdultVest, Inc., announced it officially closed its offering in the Priapus Investment Fund, LLC.
"In spite of the US and Global economic condition, the Priapus Investment Fund, LLC is on track for a great year," Francis Koenig, the Manager of the Priapus Fund said, saying also that he has plans to re-open a new offering soon.
This year the Priapus Investment Fund acquired iPorn. com, HandJob. com, and several adult content libraries. The fund has invested in the development and acquisition of several internet technologies, software platforms, and mobile technologies, and also acquired a stake in a public company operating gentlemen’s clubs.
"We have identified a few more opportunities that will close out the year and expect the fund to be fully invested by early 2009," Koenig said, 2We are already hard at work on the development of Priapus Investment Fund II and have very high expectations for the new fund."
The Beverly Hills, California-based investment company deals exclusively in the estimated 100 billion dollar Adult Entertainment Industry. It is active in mergers, acquisitions, and operates the only on-line investment community with over 4,500 registered investors and over 1,000 adult entertainment companies seeking investments, mergers, and acquisitions.
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West Palm Beach (HedgeCo.net)- AdultVest was nominated among others for the ‘Hedge Fund Launch of the Year’ Award, the alternative investment fund is the world’s first Investment Community designed specifically for the Adult Industry.
Other nominees include, Brevan Howard Asset Management, Citadel Investment Group, Odey Asset Management and Paulson & Co. for the ‘Hedge Fund Leader of the Year’ award.
Th winners will be celebrated ‘Oscar-style’ at a gala awards dinner and ceremony this evening, June 25th at Cipriani Wall Street, NYC. The award ceremony will be held in conjunction with Institutional Investor Conferences’ Hedge Fund Investor Symposium, and will host more than 400 leaders in the hedge fund industry.
The 6th Annual Hedge Fund Industry Awards recognizes the hedge funds, fund of funds, endowments, foundations, and corporate and public pension funds that have stood out for their notable accomplishments in alternative investments during the past year.
Winners will be selected by the staff of Alternative Investment News and Institutional Investor Magazine.
West Palm Beach (HedgeCo.Net)- Francis Koenig, Chairman of AdultVest Inc., announced the acquisition of iPorn.com. The acquisition coincides with the firm’s online marketplace topping $7 Billion in available capital for adult industry related investments.
"We are very excited about the acquisition… Investors in our Priapus Investment Fund, LLC are extremely pleased to be a part of this landmark purchase. We have very big plans for iPorn. This acquisition is a natural fit." says Koenig.
With AdultVest growing at the rate of $300 Million per week, they last year launched the Bacchus Investment Fund and the Priapus Investment Fund, both also aimed at attracting the open-minded investor and the billions of dollars spent on adult entertainment in North America every year.
Koening says, "Transparency and liquidity builds credibility and investor confidence, which ultimately drives the price of a company higher. I believe this is the formula to unlocking value in some of the adult industry’s hidden gems. Wait till you see what we have in store."
Another feature that will appeal to investors, Koening says, is that the firm does not take its performance fee until 100% of the capital is returned to its clients.
