John Robertson, President and CEO, said “At the end of the second quarter we had approximately $777 million of commitments of capital in our funds to be invested.  We expect to add to this in the third quarter with the potential closing of the first Infrastructure Debt Fund.  As stated in our previous reports, we earn revenue only when the committed capital is invested. As those investments are made, we will see an increase in fee revenue and a steadily growing stream of recurring management fees. This should result in increasing profitability as there will be little increase in overhead required to deploy and manage the additional revenue generating assets.

The transaction flow in both the Debt Group and the Real Estate Group can be lumpy.  We experienced a slow investing period in both of these businesses in this quarter.  The transaction pipeline in both businesses however, is strong so we are optimistic that an increase in the number of investments in the third and fourth quarter will get us back on track by year end.”

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