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Posts Tagged ‘Lone Star Richard Solomon Len Bergstein Mortgage Oregon’

Note: Also see Lone Star Part II, which has link to youtube video of Grayken’s comments before the OIC.

Today Oregon PERS investment arm, the Oregon Investment Council, met and awarded more than $1 billion in investment management contracts at its monthly meeting, including approving $600 million for Dallas based Lone Star and another $400 million for Boston based Grove Street Advisors. Also scheduled but postponed until February due to founder David Bonderman’s illness was another proposed $775 million investment in private equity firm, the Texas Pacific Group.

Lone Star CEO and Founder John Grayken is pictured below making his proposal for Lone Star, after having just returned from testifying at his firms trial over market manipulation in South Korea regarding the Korea Exchange Bank. This is somewhat ironic because in his proposal to the OIC Grayken noted that when his firm buys distressed securities portfolios, they “often get the underlying bank for free.” In the Korean bank’s case they plan to sell the bank to HSBC for $6 billion, if approved by regulators there.

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