Food and Water Watch Demands that Ares Divest from Pilgrim Pipelines at Morgan Stanley Financials Conference
Last Wednesday environmental advocates with Food and Water Watch protested at the Morgan Stanley Financials Conference where Ares Management CEO Michael Arougheti and CFO Michael McFerran were presenting. Food and Water Watch is a national environmental advocacy organization and a leading member of the Coalition Against Pilgrim Pipeline, a 76-member alliance of community groups in […]Read more
“An Uphill Battle”: PCCP and partner’s proposed townhome development at the National Conference Center stalls amidst community opposition
In April 2014, NCC PS Enterprises, LLC (“NCC PS”), a joint venture between PCCP and Stoneleigh Capital, acquired the 917-room National Conference Center (“NCC”) in Leesburg, Virginia. Nearly two years later, NCC PS filed two separate zoning applications with Loudon County that would collectively allow development of up to 126 townhomes on the site. Click […]Read more
Energy Investors Fund IV performance hits new low as Ares Management books $20m from its failure to finish raising EIF V.
Did Ares tell EIF V’s early investors about a potential incentive to slow EIF V fundraising? Ares’ Energy Investors Fund (EIF) IV performance hit a new low of 10.3% in the first quarter of 2017 (see chart 1). At the same time, Ares may have benefitted financially from its unsuccessful EIF V fundraising. In the […]Read more
In the wake of Keystone XL and #NoDAPL protests, the indigenous Ramapough Lenape’s “forceful resistance” to Ares-backed Pilgrim Pipelines profiled in the New York Times. The Ramapough Lenape Nation have joined the mounting opposition to Ares Management’s Pilgrim Pipelines, according to a report last week in the New York Times. The proposed 178-mile oil […]Read more
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?
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 […]Read more
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 […]Read more
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 […]Read more
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 […]Read more
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 […]Read more
Oaktree’s mortgage servicer moves to evict two homeowners who spoke out against its mortgage practices
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 […]Read more