Tue, Sep 17, 2019
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. Albright Capital builds on emerging markets impact strategy, signs on to IFC principles[more]

    Bailey McCann, Opalesque New York: Albright Capital has adopted the International Finance Corporation's Operating Principles for Impact Management. The firm has also developed its own impact measurement system as part of the implementation of the principles. The IFC's principles were

  2. Investing: Hedge funds getting burned as growth stocks trounced by value, Why investors are prioritizing health care in a big way, Fannie, Freddie soar as hedge funds score wins on two fronts[more]

    Hedge funds getting burned as growth stocks trounced by value From Bloomberg: A hedge-fund favorite is rapidly losing ground in the stock market just as one of the industry's least-loved sectors picks up. Growth stocks, generally companies that are seeing rapid profit increases, have drop

  3. PE/VC: Supersized unicorn: Root Insurance leaps to $3.65bn valuation with $350m round[more]

    Root Insurance is now valued at $3.65 billion after a $350 million funding round - the largest single venture capital round ever in the state. The 3-year-old auto insurer, now the startup with the highest valuation of any in Ohio, has raised a cumulative $523 million in VC and another $100 mi

  4. Testing hedge performance when stocks crash[more]

    Bonds have historically been a reliable buffer for stock exposure. But low yields and potential reversion to a more positive stock/bond correlation would likely translate to less protection. Gold has been a solid crisis hedge but has experienced long stretches of negative inflation-adjusted returns.

  5. PE/VC: The FBI is investigating a venture capital fund started by Peter Thiel for financial misconduct, Why venture capital firms need more women partners and entrepreneurs[more]

    The FBI is investigating a venture capital fund started by Peter Thiel for financial misconduct From Vox: Federal investigators are probing the conduct and practices of Mithril Capital, a venture capital firm co-founded by Peter Thiel, Recode has learned. US officials - including t