New York (HedgeCo.net) – Susan and John Moore established M & M Stable in 2000, after ten years of solid success and having developed an extraordinarily high percentage of Stakes Horses, they are now starting a Fund which will invest in female thoroughbred race horses, known as “fillies” or “mares”.
“We’ve done very well buying moderately priced fillies and developing them into valuable broodmare prospects and broodmares who give us a ton of joy on the track and then sell for significantly more than their purchase price – for example, we purchased a filly named Zaftig for $150,000 and sold her for $1,600,000. Smokey Glacken cost us only $150,000 and she brought us $1,350,000 at auction after her lucrative racing career.” John Moore, Managing Partner of Platinum, said in an interview with HedgeCo. “The yearling market is relatively cheap now, and launching the Fund should be the best way to significantly expand our operations and take advantage of the current pricing.”
“For the ten years ended December 2009, M & M had won 24% of its races and was in the money 57% of the time. More significant is the fact that 51% of its starters became Stakes Horses, 41% became Stakes Winners. Among its better known Graded Stakes Winners are Zaftig, Smokey Glacken, Voodoo, Lager, Lady Marlboro, Doremifasollatido, Tiger, Iron Deputy, Pocus Hocus and Regal Sanction,” Moore said.
The new Fund, Platinum Horse Racing Ventures, LLC has retained McGladrey & Pullen, LLP as independent accountants and will use G&S Fund Services as its Fund Administrator, with J. P. Morgan serving as Custodian. Counsel for the Fund is The Investment Law Group, of Gillett, Mottern Walker LLP, of Atlanta. The Fund is expected to open over the summer and to purchase the first yearling fillies at the Fasig-Tipton and Keeneland yearling sales.
Alex Akesson
Editor for HedgeCo.net
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