Black Card Reaches Target Two Weeks After Launch

Oct 17 2006 | 8:09am ET

Black Card Investments is closing its Private Equity Mortgage Fund with $150 million just two weeks after opening to investors, a source close to the fund says. The fund, which launched on Oct. 1 (FINalternatives 9/22), is a hybrid venture capital/private equity vehicle specializing in commercial property investments and brokerage. The fund is also allocating around 20% of its portfolio to a New York-based hedge fund.

The fund is being managed out of Dubai by Adam Antoszewski. According to the source, the bulk of the new investors are Chinese institutions.


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The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.