NEW YORK, Aug. 15, 2016 /PRNewswire/ -- First Capital Real Estate Investments today announced an agreement in principle to make a strategic investment in the parent company of Provasi Capital Partners.
As terms of the investment, First Capital will serve as an equity investor, allowing the companies to focus on providing investors with access to specialized managers and differentiated investment products through its now expanded multi-manager distribution platform, spanning institutional, wire house, regional and independent broker dealers.
"This investment will accelerate our strategy to expand our nationwide investment footprint," said Suneet Singal, Founder and Managing Partner of First Capital. "As a result of this partnership, First Capital will have access to a top-tier distribution team that has raised $6 billion. Additionally, the expanded team will create and distribute new, differentiated products that can help advisors and their clients build better, more diversified portfolios."
This transaction represents a key component in a series of ongoing strategic investments initiated by First Capital in the past year. In September 2015, the company acquired United Realty Advisors. In June of this year, First Capital announced a strategic partnership with Forum Partners Investment Management. Most recently in July, the company issued a statement regarding a proposed strategic transaction with Presidential Realty Corporation.
"With today's announcement, First Capital has demonstrated their endorsement of our model—one of specialized managers, differentiated investment strategies and access to diverse channels of capital," said Frank Muller, CEO and President of Provasi Capital Partners.
About First Capital
First Capital Real Estate Investments, founded in 2003, has developed into a complete, vertically integrated company working in the following capacities, including finance structuring (debt and equity), real estate acquisition, and land development, construction of both residential and commercial, retail operations and asset reposition to stabilization. First Capital's dual investment strategy focuses on secondary and tertiary markets seeking opportunistic assets with value-add potential. First Capital has offices in Sacramento, CA and New York, NY. First Capital's geographic focus is nationwide.
About Provasi Capital Partners
Provasi Capital Partners LP offers access to specialized investment strategies through a multi-manager approach presenting advisors and their clients with unique options for allocating capital, managing risk and diversifying assets. For more information, call 866.655.3600 or visit provasicapital.com. Member FINRA/SIPC.
Provasi Capital Partners
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SOURCE First Capital