ASM Capital Partners is an investment firm specializing in the American Single Malt Whiskey category. With over a 100 years of collective expertise in the whiskey and investment industries, our team is dedicated to identifying emerging investment opportunities and maximizing returns for our clients. We are committed to delivering exceptional value and insights in the dynamic world of whiskey.
We provide solutions for both:
The majority of American Whiskey brands on the shelves today market themselves to consumers as craft and boutique products. However, the reality is that most brands source some or all of their whiskey from pre-aged stocks. The X factor of whiskey is time. Whiskey needs to age in oak barrels for years before it gets bottled and sold through retail channels. ASM Capital Partners acts as the capital bridge between producers & brands by taking on the maturation process of the whiskey. This gives distilleries an upfront cash flow, allows brands to focus on marketing, all while delivering returns to the fund.
The majority of American Whiskey brands on the shelves today market themselves to consumers as craft and boutique products. However, the reality is that most brands source some or all of their whiskey from pre-aged stocks. The X factor of whiskey is time. Whiskey needs to age in oak barrels for years before it gets bottled and sold through retail channels. ASM Capital Partners acts as the capital bridge between producers & brands by taking on the maturation process of the whiskey. This gives distilleries an upfront cash flow, allows brands to focus on marketing, all while delivering returns to the fund.
American Single Malt
ASM Capital Partners has identified a growing supply gap within an infant whiskey category, American Single Malt. The TTB, the federal agency responsible for alcohol, only officially ratified the ASM category in December, 2024. This gives the category legal protections, marketability, and competition similar to Scotch, Irish, Japanese and Bourbon whiskey. ASM, already the fastest growing whiskey category, is now poised to cement itself at the top of premium spirits. This sudden growth has been great for the industry but has lead to a shortage of mature single malt stock. The team at ASM Capital Partners had the industry experience and insight to identify this supply gap ahead of time. We’ve positioned ourselves alongside industry leaders to help support the category with much needed capital in the exciting years to come.
How does whiskey investing fit into my portfolio?
Institutional investors have increasingly moved beyond the conventional 60/40 portfolio allocation, recognizing the limitations of relying solely on equities and fixed income. The shift toward alternatives has accelerated, with these allocations gradually displacing portions of traditional asset classes. Leading asset managers, such as BlackRock, have even introduced new models like the 50/30/20 framework, where at least 20% is dedicated to alternative assets. Depending on the investor profile, some institutions and family offices now allocate over 50% of their portfolios to alternatives, underscoring the growing demand for non-traditional exposures.
Whiskey barrels present a compelling addition to this evolving investment landscape. As a real asset with intrinsic value growth, whiskey provides strong uncorrelated exposure to traditional asset classes and further diversifies an alternative allocation. Its lower risk profile—reinforced by the combination of steady global demand, intrinsic appreciation over time, and insurance coverage throughout the maturation period—positions it as a resilient complement to tangible assets. Furthermore, whiskey investments can serve as a hedge against the cyclicality of real estate and mitigate risks associated with private equity investments.
Within the widely adopted 50/30/20 model, whiskey barrels can enhance diversification and contribute to alpha generation alongside private equity, real estate, commodities, and other alternative asset classes. By integrating whiskey into an institutional portfolio, investors can benefit from a unique, time-tested asset with historically strong returns and low correlation to broader market cycles.
The expanding universe of real asset opportunities justifies dedicated allocations within alternative investment sleeves. Whiskey barrels offer historically low correlation to the market cyclicality that affects major exposures such as real estate while presenting lower capital and market risk than private equity and venture capital. While whiskey shares some characteristics with commodities, its maturation process transforms new-fill distillate into a finished good, mitigating the volatility typically associated with pure commodity investments. Given its intrinsic value appreciation over time, whiskey warrants consideration as a distinct real asset allocation within institutional portfolios, offering both diversification and downside resilience.
American Single Malt
ASM Capital Partners has identified a growing supply gap within an infant whiskey category, American Single Malt. The TTB, the federal agency responsible for alcohol, only officially ratified the ASM category in December, 2024. This gives the category legal protections, marketability, and competition similar to Scotch, Irish, Japanese and Bourbon whiskey. ASM, already the fastest growing whiskey category, is now poised to cement itself at the top of premium spirits. This sudden growth has been great for the industry but has lead to a shortage of mature single malt stock. The team at ASM Capital Partners had the industry experience and insight to identify this supply gap ahead of time. We’ve positioned ourselves alongside industry leaders to help support the category with much needed capital in the exciting years to come.
How does whiskey investing fit into my portfolio?
Institutional investors have increasingly moved beyond the conventional 60/40 portfolio allocation, recognizing the limitations of relying solely on equities and fixed income. The shift toward alternatives has accelerated, with these allocations gradually displacing portions of traditional asset classes. Leading asset managers, such as BlackRock, have even introduced new models like the 50/30/20 framework, where at least 20% is dedicated to alternative assets. Depending on the investor profile, some institutions and family offices now allocate over 50% of their portfolios to alternatives, underscoring the growing demand for non-traditional exposures.
Whiskey barrels present a compelling addition to this evolving investment landscape. As a real asset with intrinsic value growth, whiskey provides strong uncorrelated exposure to traditional asset classes and further diversifies an alternative allocation. Its lower risk profile—reinforced by the combination of steady global demand, intrinsic appreciation over time, and insurance coverage throughout the maturation period—positions it as a resilient complement to tangible assets. Furthermore, whiskey investments can serve as a hedge against the cyclicality of real estate and mitigate risks associated with private equity investments.
Within the widely adopted 50/30/20 model, whiskey barrels can enhance diversification and contribute to alpha generation alongside private equity, real estate, commodities, and other alternative asset classes. By integrating whiskey into an institutional portfolio, investors can benefit from a unique, time-tested asset with historically strong returns and low correlation to broader market cycles.
The expanding universe of real asset opportunities justifies dedicated allocations within alternative investment sleeves. Whiskey barrels offer historically low correlation to the market cyclicality that affects major exposures such as real estate while presenting lower capital and market risk than private equity and venture capital. While whiskey shares some characteristics with commodities, its maturation process transforms new-fill distillate into a finished good, mitigating the volatility typically associated with pure commodity investments. Given its intrinsic value appreciation over time, whiskey warrants consideration as a distinct real asset allocation within institutional portfolios, offering both diversification and downside resilience.
The founders of ASM Capital Partners have been pioneers and leaders in investing in whiskey globally, having managed over $500 million in whiskey assets. The team’s vast experience extends past just barrel investing. Using in-depth industry expertise and relationships our founders have created multiple successful brands. This includes award winning luxury brands, celebrity partnerships, and managing a successful exit to Diageo.
This proven track record of success across the entire whiskey value chain ensures our investors that we possess the knowledge, network, and strategic vision to not only identify and secure the highest quality barrels, but also to maximize their value through potential brand development, strategic partnerships, and ultimately, profitable exits.
With years of experience and a deep understanding of market trends, we stay ahead of demand by making strategic investments in the styles and varieties of American single malt that brands are seeking. We collaborate with craft distilleries across the US to commission the production and aging of single-malt whiskey in a range of barrel types, from traditional oak to sherry and unique cask finishes. This diversification enhances the depth and complexity of our portfolio, meeting the evolving preferences of both established and emerging brands.
At the same time, we’re expanding our global distribution network, facilitating exports to key markets in India, China, Indonesia, and Australia. This global reach supports the multi-billion-dollar export market, ensuring continued growth in a dynamic industry and offering our partners the opportunity to thrive internationally.
We collaborate with industry leaders, distilleries, and key stakeholders to forge strategic partnerships that drive innovation and growth within the whiskey investment landscape. These alliances give us access to exclusive opportunities, expand our network, and keep us at the forefront of industry developments. By leveraging these relationships, we gain valuable insights and stay ahead of emerging trends, ensuring our portfolio remains dynamic and aligned with market demand.
Through these strategic partnerships, we also strengthen our ability to identify high-potential investments and explore new avenues for growth, whether through innovative production techniques, aging methods, or global distribution channels. These collaborations are essential to our long-term success and help us continuously enhance the value we deliver to our partners and investors.
The founders of ASM Capital Partners have been pioneers and leaders in investing in whiskey globally, having managed over $500 million in whiskey assets. The team’s vast experience extends past just barrel investing. Using in-depth industry expertise and relationships our founders have created multiple successful brands. This includes award winning luxury brands, celebrity partnerships, and managing a successful exit to Diageo.
This proven track record of success across the entire whiskey value chain ensures our investors that we possess the knowledge, network, and strategic vision to not only identify and secure the highest quality barrels, but also to maximize their value through potential brand development, strategic partnerships, and ultimately, profitable exits.
With years of experience and a deep understanding of market trends, we stay ahead of demand by making strategic investments in the styles and varieties of American single malt that brands are seeking. We collaborate with craft distilleries across the US to commission the production and aging of single-malt whiskey in a range of barrel types, from traditional oak to sherry and unique cask finishes. This diversification enhances the depth and complexity of our portfolio, meeting the evolving preferences of both established and emerging brands.
At the same time, we’re expanding our global distribution network, facilitating exports to key markets in India, China, Indonesia, and Australia. This global reach supports the multi-billion-dollar export market, ensuring continued growth in a dynamic industry and offering our partners the opportunity to thrive internationally.
We collaborate with industry leaders, distilleries, and key stakeholders to forge strategic partnerships that drive innovation and growth within the whiskey investment landscape. These alliances give us access to exclusive opportunities, expand our network, and keep us at the forefront of industry developments. By leveraging these relationships, we gain valuable insights and stay ahead of emerging trends, ensuring our portfolio remains dynamic and aligned with market demand.
Through these strategic partnerships, we also strengthen our ability to identify high-potential investments and explore new avenues for growth, whether through innovative production techniques, aging methods, or global distribution channels. These collaborations are essential to our long-term success and help us continuously enhance the value we deliver to our partners and investors.
If your looking to diversify into the world of whiskey then get in touch with us! We also welcome any distilleries or brands in the American Single Malt sector to get in touch with our team too.