Rickesh Kishnani not only loves whisky but has learned how to harness the spirit’s wealth-generating potential. As our new Whisky Chief, he talks about his favourite drams, whisky investing, and his own journey of whisky discovery.
How did your journey into the world of whisky begin?
Necessity is the mother of all innovation. In 2013, I was running a wine distribution business that had very low margins in a very competitive landscape. I needed to find a new growth market and I spent time exploring many options (it’s a tough job I know!). I personally fell in love with whisky as the best after-dinner drink (I still love pairing wine with food) and over time fell in love with Scotland as one of the most beautiful places in the world to visit.
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What are some of your favourite drams?
Glendronach 18-year-old is one of my all-time favourites and has been for many years. It is everything that you would expect for those who love a strong sherry bomb flavour. In my home bar, you will always find a bottle of Talisker 10-year-old as it’s my weeknight tasty tipple – smooth with a touch of smoky peat. The best part of being into whisky is the chance to constantly try new drams and new cask variations.
What are some of the misconceptions people have about whisky?
The biggest one I hear from so many people is that, “whisky is too strong for me”. I have found that most of the time those people were simply never taught how to drink single malt whisky. They take big sips and feel that burn down their throat immediately – no one likes that! The key to approaching single malt whisky is to do it slowly. First spend a few minutes nosing, then with the first sip let it swish all around your mouth, and finally add a few small drops of water until the strength is where you like it. Only after you have primed your palate you can you properly enjoy the flavours!
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You started a whisky cask fund; what was that about and how did it turn out?
In 2014, I launched the Platinum Whisky Fund, the world’s first private equity fund that invested in whisky. We raised US$12m and invested in 12,000+ bottles of rare single malt whisky from Scotland and Japan. Structured as a seven-year close-ended fund, we completed the exit on schedule in 2021 at US$26m. There were many learnings and challenges through Brexit and the pandemic, but in the end, we still delivered a 17% gross IRR for all our investors.
You now specialise in whisky investment – what kinds of investments are we talking about, what kind of buy-in, and what kind of returns could we expect?
My company, Rare Whisky Holdings, focuses on offering access to aged single malt whisky casks, which give individuals the opportunity to invest in whisky as an alternative asset class. Our clients typically start with GBP20-50K, which buys 2-3 casks of whisky. Our company is unique because we are not brokers – we own over 1,000 casks, our own cask warehouse in Scotland, and multiple exit options, including our own online whisky auction house called Whisky Hammer. The average hold time is 3-5 years, and the industry average return is 12-15% annually.
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Where does Hong Kong sit in the whisky aficionado world? Are we drinkers or collectors?
Hong Kong definitely has it all – we have drinkers, collectors, and investors. I think there was a strong boom of new whisky concepts before the pandemic but that seems to have slowed down while Singapore has risen to new heights in the past few years. For the best whisky bars in Asia, I would still put Taipei and Japan at the top – the selection is any whisky lover’s dream!
You recently opened a whisky experience lounge in Sheung Wan; what’s the idea behind the new space?
It’s the private lounge (translation – man cave) I have always wanted. Not open to the public but on an invite-only basis, we host private tastings and experiences for those who want to delve into the world of whisky in a very relaxed and comfortable atmosphere. There’s a small balcony for the cigar smokers, a pool table, and of course, unique cask samples delivered directly from our cask warehouse in Scotland.
You will soon begin a series of informative videos on whisky for AMA as its resident Whisky Chief. What topics will you be tackling?
We hope over time to cover it all, starting with the basics like how to taste whisky and what are the best value whiskies for gifting, but we will also delve into what whisky pairs best with cigars and how to invest in whisky as an alternative asset class. After all, whisky is more than just a drink of choice…it’s a lifestyle.
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