March 23, 2017

After calls for a federal review of the sale of the Westin Long Beach hotel, will AEW ensure the transaction does not pose national security risks?

LowenthatLetter

The potential sale of the Westin Long Beach Hotel to buyers tied to China or other foreign states has sparked national security concerns and attracted media attention.[i] In December 2016, U.S. Congressman Alan Lowenthal of Long Beach wrote a letter asking the Committee on Foreign Investment in the United States (CFIUS) to review the potential […]

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March 17, 2017

Does Ares’ Neiman Marcus exit have a conflict of interest?

This week, reports emerged that Neiman Marcus could be bought by competitor Hudson’s Bay Company. Ares (via ACOF III and IV) and a partner purchased the luxury retailer in 2013. Neiman Marcus has since struggled with languishing sales and a high debt load. Left unreported is a potential conflict which could cloud any deal between Neiman […]

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March 1, 2017

Private equity: Stand up for equality and diversity in America

PledgeImage

Our country is at a crossroads.  We face a choice of whether to support diversity, equality and inclusiveness in American life and work, or to slam the doors shut on those seeking a better life. US based companies owned by private equity firms employ more than 11 million American workers.  Private equity firms manage nearly […]

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February 20, 2017

Oaktree homeowner eviction – Paula Smith

PaulaSmith

Last week, two Baltimore homeowners who have spoken out against Oaktree Capital’s mortgage practices received notices of eviction. Paula Smith Paula and her children are scheduled to be evicted from their home on March 27th. My name is Paula Smith. I live here in Baltimore and work for the Baltimore school system. In 2008 I […]

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February 20, 2017

Oaktree homeowner eviction – Joann Rodriguez

Joan Rodriguez eviction notice

Last week, two Baltimore homeowners who have spoken out against Oaktree Capital’s mortgage practices received notices of eviction. Joann Rodriguez  Joann is scheduled to be evicted from her home on March 28th. My name is Joann Rodriguez. On October 21, 2008 I entered into a mortgage loan agreement with Bank of America N.A. for the […]

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February 20, 2017

Oaktree’s mortgage servicer moves to evict two homeowners who spoke out against its mortgage practices

Joan Rodriguez eviction notice

Last week, two Baltimore homeowners who have spoken out against Oaktree Capital’s mortgage practices received notices of eviction. Joann Rodriguez attempted to negotiate a loan modification with Selene Finance, Oaktree’s mortgage servicer, after suffering a health crisis. She was rejected for a modification. She is now scheduled to be evicted on March 28th. Paula Smith […]

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December 5, 2016

Key Supporters of Bill to Shift Money from Small Businesses to Hedge Funds Lose Congressional Seats

Rep. Scott Garrett Congressional Photo

In November 2015, the House Financial Services Committee passed the innocuously-named “Small Business Credit Availability Act” (H.R. 3868),[1] which effects BDCs, tax-free entities set up to fund small businesses. If adopted, the bill could actually reduce credit available to small businesses by allowing BDCs to invest more of their capital in hedge funds and other risky […]

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December 2, 2016

UNITE HERE and Food & Water Watch deliver letter asking Ares and its investors to stop funding the Pilgrim Pipelines

On December 1st, Marcos Feldman of UNITE HERE and Andrea Leon-Grossmann of Food and Water Watch delivered a letter to Ares Management’s Los Angeles headquarters calling on Ares and its investors to withdraw funding from the environmentally destructive Pilgrim Pipelines. The letter has been signed by 92 advocacy organizations and 179 individuals. Marcos and Andrea […]

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November 16, 2016

In letter, Members of the Baltimore City Council express concern about Oaktree’s investment in residential mortgages in Baltimore City and County

A pdf of the letter can be viewed here. Copy of the text follows:   Select Members of Baltimore City Council Baltimore City Hall 100 Holliday Street Baltimore, Maryland 21202 Phone: (410) 396-31000   Bruce Karsh Chief Investment Officer, Oaktree Capital Management, L.P. 333 South Grand Ave., 28th Floor Los Angeles, CA 90071   Dear Mr. […]

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October 14, 2016

UNITE HERE hosts discussion on risks of alternative managers like Ares Management at Council of Institutional Investors Fall Conference

On September 29, UNITE HERE hosted a panel discussion at the 2016 Fall Conference of the Council of Institutional Investors highlighting the risks of alternative asset managers for institutional investors. Entitled “Bigger Isn’t Always Better,” the meeting focused on Ares Management as a case study in alternative manager risk. Panelists included: JJ Jelincic, an elected member […]

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