The DI Wire

A resident of Queens, N.Y., Ian Mitchell, was charged by the U.S. Securities and Exchange Commission with defrauding investors in an offering fraud scheme. Mitchell agreed to settle the SEC’s charges. #SEC #fraud #SecuritiesandExchangeCommission #NewYork #billionaire #settle #investors #stock #IPO #wirefraud #initialpublicoffering #Mitchell

Ultimus Fund Solutions – an independent provider of full-service, technology-enhanced fund administration, accounting, and investor solutions – announced the addition of four senior professionals to its management team. The hires are intended to enhance critical client support functions and strategic growth areas. Ultimus Fund Solutions Apex Group Ltd ACA Group Gary Tenkman Jessica Chase Lance Christofferson Kerric Kynard, CMFC? CRPC? Jennifer Myers #UltimusFundSolutions #seniorvicepresident #hire #alternativeinvestments #retail #transferagent #businessdevelopment #growth #UltimusRegisteredAlternativesGateway #closedendfund #intervalfund #tenderofferfund #businessdevelopmentcompany #realestateinvestmenttrust #BDC #REIT

The Financial Industry Regulatory Authority has censured and fined MML Investors Services LLC, a Massachusetts-based financial services firm, $700,000 for supervisory failures related to consolidated reports. #alternativeinvestments #brokerdealer #RIA #financialservices #brokerage #registeredinvestmentadviser #FINRA #FinancialIndustryRegulatoryAuthority #MML #MMLInvestorsServices #consolidatedreports #supervisoryfailure #oversight

Cohen & Steers Income Opportunities REIT Inc., a non-listed real estate investment trust sponsored by investment management firm Cohen & Steers (NYSE: CNS), reported that its total net asset value increased in value by approximately 3.5% month-over-month. The NAV was approximately $71.7 million at the close of October 2024 and $69.3 million at the close of September 2024. Cohen & Steers COHEN & STEERS CAPITAL MGT., INC James S. Corl #CohenSteers #CohenSteersIncomeOpportunitiesREIT #realestateinvestmenttrust #NAV #netassetvalue #ClassP #TheSterlingOrganization #acquisition #realestate #securities #alternativeinvestments

National real estate company Thompson Thrift announced it has sold the last remaining property in the Watermark 3G Multifamily Development Fund II, LP, achieving a 34.5% internal rate of return and a 2.16 equity multiple. Thompson Thrift Paul Thrift Carrie Thrift LaFay #alternativeinvestments #ThompsonThrift #multifamily #realestate #equity #multifamilydevelopmentfund #Watermark3G #rateofreturn #equity #Alabama #Arizona #Colorado #Michigan #Missouri #WatermarkResidential

The Financial Industry Regulatory Authority has censured and fined investment banking firm Drexel Hamilton, along with fining four of its registered representatives, a total of more than $1.2 million for violating municipal securities rules. #alternativeinvestments #brokerdealer #RIA #FINRA #financialservices #adviser #brokerage #registeredinvestmentadviser #FINRA #FinancialIndustryRegulatoryAuthority #violation #DrexelHamilton #bonds #municipalbonds #sanction

Real estate investment manager Inland Private Capital Corporation and Devon Self Storage – both of which are members of The Inland Real Estate Group of Companies Inc. – have completed construction on an 85,300-square-foot self-storage facility in Lubbock, Texas. Inland Private Capital Corporation The Inland Real Estate Group of Companies, Inc. Devon Self Storage Kenneth Nitzberg Keith Lampi #inlandprivatecapital #inlandprivatecapitalcorporation #IPC #Inland #equity #capital #selfstorage #Devonselfstorage #Wisconsin #Pennsylvania #texas #michigan #ipcselfstorageredevelopmentfundllc

Prudential Advisors, the retail arm of Prudential Financial Inc., and LPL Financial Holdings Inc. finalized the launch of their strategic relationship, which The DI Wire first reported in August 2023. Via the agreement, the entirety of retail and registered investment advisory assets of Prudential’s advisers transferred from Fidelity National Financial Services to LPL Enterprise LLC, an affiliate of LPL Financial Holdings. ? LPL Financial Prudential Financial Brad Hearn Ken Hullings Rich Steinmeier Scott Posner #PrudentialAdvisors #Prudential #LPLFinancial #LPL #retail #RIA #registeredinvestmentadviser #relationship #partnership #offerings #growth #brokerdealer #recruiting #technologyplatform #onboarding #Fidelity

Apollo Realty Income Solutions Inc., a non-listed net asset value real estate investment trust sponsored by Apollo Global Management Inc., reported its monthly aggregate NAV. It grew to approximately $1.028 billion as of Nov. 4, 2024, compared to $927.4 million the month prior ending Sept. 30, an increase of approximately 10.84%. Apollo Global Management, Inc. M. Jess Lipsey Spencer Propper #alternativeinvestments #Apollo #ApolloRealtyIncomeSolutions #NAV #netassetvalue #share #valuation #REIT #realestateinvestmenttrust #fixedrateloan #floatingrateloan #commercialrealestate #CRE #multifamily #datacenter

A group of investors in three non-listed real estate investment trusts sponsored and advised by affiliates of David Lichtenstein’s The Lightstone Group LLC have filed a class-action lawsuit in New Jersey federal court, alleging they and potentially thousands of other investors were misled into approving charter amendments that blocked the liquidation of their investments. #LightstoneValuePlusREIT #Lightstone #realestateinvestmenttrust #lawsuit #investors #amendment #charteramendments #fiduciaryduty #breachofcontract #liquidation #SEC #SecuritiesandExchangeCommission #Lichtenstein