The FSCS has opened a probe into a Facebook-advertising 'socially conscious' alternative investment firm which has now gone into liquidation.

ESE Capital Limited (FRN 469499) was placed into Creditors’ Voluntary Liquidation by its directors on Monday 1 December after receiving advice from insolvency experts, the FCA said in a regulatory notice this week.

London-based ESE advertised on Facebook and claimed to offer, "high-net worth and sophisticated investors the opportunity to invest into socially conscious and ethical investments in both the commercial and residential spaces."

Yesterday (3 December) the FSCS opened an investigation into the company which was authorised by the Financial Conduct Authority and provided financial management services and specialised in alternative investment opportunities, including ‘land banking’, a process where small parcels of land are often sold to investors based on potential future investment returns if planning permission for development is secured.

The FSCS says that some of the funds may have been held within SIPPs.

The FSCS said: "If the SIPP provider you initially held your investment with has failed, you may be able to submit a claim to FSCS against your SIPP provider. The types of claim FSCS are able to consider against SIPP providers typically concern due diligence failings."

The FSCS warned that the investigation into the firm is likely to be complex and take some time. It adds that while it is investigating the firm it is not yet open to consumer complaints.

Adam Price and Lane Bednash of CMB Partners UK Limited have been  appointed as joint liquidators of the firm.

ESE Capital Ltd (ESE) has been regulated since June 2008. It acted as an Alternative Investment Fund Manager (AIFM), for a series of unregulated funds that operated in land banking, the FSCS said.

On 11 July, ESE Capital Limited agreed with the FCA that it would not:

• take on any new customers
• accept new funds from existing customers
• provide any regulated services to any existing customers
• diminish the value of any of its own assets, and any funds it holds, except for payments in the ordinary and proper course of business

The FCA said these requirements will continue to apply during the liquidation process.

The liquidators will be responsible for managing customer claims against the firm and distributing funds back to customers where possible, the FCA said. It is not yet known if any clients have lost money as a result of dealings with the firm. If the FSCS judges the firm to have failed it will step in to compensate investors with valid claims up to £85,000 per claim.

• The liquidators can be contacted at This email address is being protected from spambots. You need JavaScript enabled to view it.