Vultures circle the hedge fund capital
|April 2nd, 2010||
|Contributed by: Teri Buhl|
|Problems with the troubled commercial real estate are coming to surface in Greenwich, Connecticut, which is commonly known as the hedge fund capital of the world. According to Teri Buhl, one emerging distressed situation involves Barry Sternlicht and his Starwood Capital, which has approximately $14 billion in assets under management. |
Starwood Capital holds $30 million in Mezzanine debt on a commercial property in downtown Greenwich, 100 West Putnam, which was formerly the home of hedge funds Duff Capital and Plainfield Asset Management. Starwood Capital is in the position to potentially take control of the office building if the owner defaults.
For complete coverage, please see Ms. Buhl’s complete article on CNNMoney.com.
For Detailed Investor Profiles on these Investors, click below: