Wednesday, April 21, 2021
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HomeBanksPE Daily: GPB Capital Sues Signature Bank | Oaktree Under Activist Fire...

PE Daily: GPB Capital Sues Signature Bank | Oaktree Under Activist Fire | Private E…

Good morning. As we enter March, here in the U.S. we are approaching the one-year mark since the coronavirus pandemic upended our lives. As the vaccine rollout continues across the country, it’s hard to predict exactly what the new normal will look like or when we will get there. Some of the adaptations we’ve made will linger even beyond the pandemic, even in the private equity industry, as Chris Cumming reports today.

Ted Bunker has another update on the unfolding saga of GPB Capital. It is suing Signature Bank, which the private-equity firm claims improperly took $2.2 million from its accounts over alleged loan defaults. One of the loans was obtained under the federal Paycheck Protection Program, as Ted reports.

Finally, Preeti Singh brings us news about an activist group that took aim at Oaktree Capital Management during a public pension meeting over residential evictions at properties backed by the firm’s real estate unit.

Read on for more details and these and other stories…

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