Phoenix American Announces New Client, Cannabis Fund Sponsor AC Capital Partners, for Fund Administration
January 17, 2023 | Phoenix American
Partnership reflects Phoenix American’s expertise in fund administration for a wide variety of alternative investment asset classes
Phoenix American is pleased to announce its new fund administration relationship with alternative investment sponsor AC Capital Partners. Phoenix American will support AC Capital Partners’ MJ REIT fund offering with its industry-leading investor services platform featuring the STAR-XMS shareholder management / transfer agent system. AC Capital will benefit from Phoenix American’s advanced technology, focus on customer service and experience with the back-office operational challenges specific to alternative investment funds.
Commercial Real Estate in a High Growth Emerging Industry
MJ REIT is a private hybrid commercial real estate fund focused on opportunities in the cannabis real estate sector. The Fund focuses on financing commercial real estate whose tenants operate in the state legal cannabis industry. Target assets are properties that have been licensed for cannabis but can also be used for other businesses. MJ REIT’s allocations combine traditional senior mortgages with sale leaseback transactions while holding a small allocation in marketable securities for liquidity purposes. The fund seeks to provide investors with competitive income, diversification, and stability by originating deals in both the retail and industrial sub-segments.
“We are delighted to partner with Phoenix American,” said Chris Reece, Executive Managing Member at AC Capital Partners & CEO of MJ REIT. “In the rapidly evolving cannabis real estate market, it was imperative for us to partner with a high-quality, committed firm for our back-office functions allowing us to focus on generating attractive risk-adjusted returns for our investors.
Fund Administration for Every Alternative Investment Asset Class
Advanced operational solutions are critical to the success of today’s alternative investment funds. Since its early years as an alternative investment fund sponsor, Phoenix American has developed and deployed the most advanced systems and efficient transfer agent processes in the industry. Phoenix American’s STAR-XMS investor management / transfer agent system, its integrated fund accounting capabilities, and customized investor relations are the result of its early experience as a fund sponsor combined with its thirty years of experience as a third-party administrator for alternative investment funds.
“AC Capital Partners is pursuing opportunities in a fast-growing market with MJ REIT,” said Andrew Constantin, Chief Operating Officer at Phoenix American. “We are delighted they chose us for their back-office needs and look forward to contributing to their success.”
About Phoenix American
Phoenix American Financial Services, Inc. provides back-office outsourcing, fund administration services, fund accounting, investor services and sales and marketing reporting services to fund companies in the alternative investment industry. The Phoenix American Aviation ABS Group, including its Irish subsidiary, PAFS Ireland Ltd, provides managing agent and accounting services for asset-backed securitizations (ABS) and other structured finance in the commercial aircraft and aircraft engine leasing industry. The company is an affiliate of Phoenix American Incorporated along with Phoenix American SalesFocus Solutions. Phoenix American has five offices worldwide, was founded in 1972 and is headquartered in San Rafael, CA.
About AC Capital Partners
AC Capital Partners LLC, a sponsor of alternative investments designed for individual and institutional investors, seeks to be the industry leader of alternative investment products within cannabis, and adjacent industries. Given the difficulties investors have in gaining access to this area of the market, AC Capital Partners believes it can create a platform of investment options to satisfy investor challenges. The firm is managed by seasoned industry professionals who have spent their entire careers in the investment world and have deep experience in compliance, distribution, and product management.
