Fri, Dec 14, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
New Managers March 2018

PROFILES: Oval Capital Management, Arion Investment Management Copper Arbitrage

 

Oval Capital Management eyes distressed real estate

New York-based Oval Capital Management is in market with a new distressed real estate and non-performing loans strategy. The firm looks for nonperforming mortgage notes backed by commercial and residential real estate

Oval Capital managing partner Oleg Langbort tells Opalesque New Managers that the firm is targeting $25-50 million for its first fund and has already done approximately $8 million in transactions over the past six years.

The management team, which includes Langbort and managing director Igor Vidrevich has experience with real estate debt investing, property management and renovation as well as buying and selling properties. Vidrevich joined the firm from Morgan Stanley, where he worked in the Securitized Products Group. Langbort previously worked in alternative investments for Banco Santander.

Oval takes a high touch approach buying nonperforming debt and rehabilitating the underlying asset. In some cases, that could mean fully renovating a property in order to sell at a profit. The portfolio can hold a mix of commercial and residential real estate with the proportion of each varying based on the market environment. "For most private equity and hedge funds, owning the asset would be their worst nightmare. We think that you can't manage from afar, often our best case scenario is to own the asset and be hands-on," Langbort says

Oval's typical deal size ranges from $3-10 million and the management team works to get capital back to investors within 24 months. Langbort says it is key for investors to understand that the strategy is opportunistic in nature and isn't a long lock-up real estate fund. The 24-month timeline provides a similar profile to bridge financing funds, which usually return capital back to investors within 1-3 years. S......................

To view our full article please login

This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.
New Managers
New Managers
New Managers

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Brexit: Hedge funds make big bets against post-Brexit UK economy, Hedge funds rent a lifeline to stay afloat in EU post-Brexit, Treasury green-lights sale of new EU funds into UK[more]

    Hedge funds make big bets against post-Brexit UK economy From The Guardian: A pair of hedge funds owned by prominent Brexit supporters have made significant bets against companies exposed to the British consumer including big high street names. Odey Asset Management, part-owned by Cr

  2. Trends: Licking their wounds, fund managers prep for rally in '19, Concerns rising over leveraged loan market[more]

    Licking their wounds, fund managers prep for rally in '19 From Reuters: With bond and equity markets from the United States to emerging markets all on pace to lose money this year, investors have not seen this much red on their screens since 1972, the last time no asset class returned at

  3. New Launches: Swiss boutique launches EM impact bond fund, Jungle Ventures to raise $200m third venture capital fund, CPR AM licences five funds with new climate rating, Sailing Capital seeks $1.5bn for second fund, Liquid multi-strategy alts focus of new Schroder fund, Vivo Capital rakes in $864m, Swiss group launches sustainable European small-cap fund[more]

    Swiss boutique launches EM impact bond fund From City Wire: Swiss impact investmenting boutique BlueOrchard has launched a Ucits-complaint impact bond fund. The Luxembourg-domiciled Emerging Markets SDG Impact Bond fund will allocate to companies in emerging and frontier markets and aims t

  4. Institutional Investors: PennPSERS earmarks $450m for 3 funds, adds new funds to DC lineup, Qatar Investment Authority has accelerated investments in technology, Elon Musk says he would no longer accept Saudi investment, San Francisco City & County Employees slates $192m for alternatives[more]

    PennPSERS earmarks $450m for 3 funds, adds new funds to DC lineup From PIonline.com: Pennsylvania Public School Employees' Retirement System, Harrisburg, allocated $450 million to three investment funds and added 11 new funds to its defined contribution lineup, confirmed Evelyn Williams,

  5. Swiss asset manager GAM sees big 2018 loss, omits dividend[more]

    From Reuters: Swiss asset manager GAM Holding AG will cut staff by a tenth and omit a 2018 dividend, it said on Thursday, forecasting a 2018 net loss of around 925 million Swiss francs ($931 million) as it shakes up its embattled business. Assets under management continued to fall, dropping to