Stellex Capital Management Closes Second Flagship Private Equity Fund at $1.775 Billion, Exceeding its Target Stellex Capital Management ("Stellex"), a middle market private equity firm, today announced the successful closing of Stellex Capital Partners II LP (the "Fund"), with aggregate commitments of $1.775 billion, exceeding the Fund’s $1.25 billion target. Stellex has a strategic focus on investments in middle-market, deep value opportunities and special situations, with
First of its Kind Partnership will Support Union Jobs, Strengthen Retirements, & Help Economic Recovery WASHINGTON, D.C. — North America’s Building Trades Unions and the American Investment Council today announced a first of its kind, broad partnership to accelerate the creation of good union jobs, encourage investment, and strengthen retirement security for millions of middle class families. Sean Garvey, President of North America’s Building Trades Unions, and Drew Maloney,
North America's Building Trades Unions released a scorecard of real estate and infrastructure managers Wednesday, based on how well they follow the labor organization's responsible contractor policies. The latest version of the NABTU Responsible Contractor Policy Scorecard now has 10 categories instead of five, and places greater emphasis on how well the managers implement their policies. Scoring categories include how widespread the policy is within a manager's operations an
Funding will go toward 4,000 units that will be listed as market-rate, workforce, and affordable in one of the nation’s most costly housing markets. The AFL-CIO Housing Investment Trust (HIT) will invest $1 billion to boost rental housing in the San Francisco Bay Area over the next five years. The funding will go toward 4,000 housing units that will be listed as market-rate, workforce, and affordable in one of the nation’s most costly housing markets, the fund said last week.
CHICAGO, Sept. 14, 2020 /PRNewswire/ -- GCM Grosvenor, a global alternative asset manager, announced today that it completed the final close for its Labor Impact Fund (the "Fund") on September 7, 2020, Labor Day in the United States, with $893 million in committed capital, at the high end of its targeted range. GCM Grosvenor's Labor Impact Fund originates and executes infrastructure projects that leverage the inclusion of union labor as a contributing factor to enabling attra
*Correction* In our September 3rd issue of the Expresso we referenced an article in error. Please read this corrected version of our introduction below. The Trump Administration continued its multi-pronged attack against workers, retirees and shareholders with two more blunt, irrational rules and proposals from the U.S. Department of Labor (DOL) and Securities Exchange Commission (SEC). While the Expresso has not had the time to examine the DOL proposal carefully, they appea
The U.S. Department of Labor (DOL) released its long-awaited proxy voting rule proposal on Aug. 31. If adopted without modification, fiduciaries of plans (e.g., investment managers) subject to the U.S. Employee Retirement Income Security Act of 1974, as amended (ERISA), may shy away from voting proxies and participating in shareholder engagement on matters that do not demonstrably improve the value of the plan’s holding in the short-term. Thus, the exercise of shareholder rig
The following letter was submitted by the authors on May 26, 2020, to the Securities and Exchange Commission (SEC) Chairman Jay Clayton and filed in response to selected rulemakings (listed in the appendix below). SEC proposed rules and public comments are available here. Dear Chairman Clayton, America is in crisis. The raging coronavirus pandemic has infected more than 1.6 million Americans and killed nearly 100,000 to date. The health crisis has also caused a unprecedent