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Commercial Real Estate Direct – Hodes Weill's Tunbridge Buys Stake in Investment Manager Savanna

Investment manager Savanna, which pursues opportunistic and value-add strategies, has sold a minority interest in itself to TK Partners, an investor group led by Hodes Weill & Associates affiliate Tunbridge Investment Partners.

Terms of the transaction weren't disclosed. Tunbridge, which is backed by a $500 million equity commitment from a group led by Quantum Strategic Partners, which is sponsored by Soros Fund Management of New York, and Pine Brook Partners, another New York investment manager, acquired a passive stake. TK Partners, meanwhile, is capitalized in part with an investment from Kudu Investment Management of New York, which specializes in providing funding to...

Read the complete article at CREnews.com >

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