Griffin Capital Securities Reports $1.5 Billion in Capital Raise Through September 2019
October 3, 2019
Griffin Capital Securities, LLC (“GCS”), the distribution division of Griffin Capital Company LLC, one of the nation’s premier alternative investment asset managers, today announced a 2019 equity capital raise of nearly $1.5 billion year-to-date, surpassing the equity capital raise of $1.4 billion for all of 2018. GCS attributes its success to solid performance across all six investment solutions and a focused distribution strategy that dedicates resources to each unique financial intermediary segment including Independent Broker-Dealers (IBD), national Wirehouse, and Registered Investment Advisory firms (RIA). GCS recently formed an Institutional Advisory Group to offer tailored support to highly capitalized investors, institutions, bank trusts and family offices.
Mark Goldberg, CEO of Griffin Capital Securities said, “Our outstanding results are a direct reflection of our ability to assess the specific needs of each of our key distribution partners and respond with the service and support required to earn their confidence. We are privileged to have an outstanding team of professionals at Griffin who are dedicated to bringing best-in-class investment solutions and educational resources to serve our clients.”
Company results for the period include:
• 25.5 percent increase third quarter 2019 over third quarter 2018
• 42.6 percent increase year-to-date 2019 over same period 2018
• Surpassed total equity capital raise for all of 2018
• Announced the addition of 69 new distribution opportunities for third quarter 2019
• Announced the addition of 180 new distribution opportunities year-to-date 2019
“We are thrilled with our results to date,” said Kevin Shields, Chairman and CEO, Griffin Capital Company LLC. “Our teams have worked hard to execute on the strategic vision of the company, and it is gratifying to see how advisors in all three distribution channels are embracing our investment solutions for their clients.”
Percentage increase of investor flows 2019 year-to-date as compared to the same period 2018:
• Independent Broker-Dealer: 33.6 percent
• Wirehouse: 42.8 percent
• Registered Investment Advisory: 60.3 percent
• Institutional Advisory Group: experienced the most significant increase with flows of 22.2 times over the same period in 2018.
Mark Goldberg further added, “Over the years, Griffin has earned a reputation for leadership, forward thinking, and consistent performance. At GCS, our dedicated team of passionate professionals looks to build upon that foundation as we deepen and expand our relationships in all distribution channels.”
About Griffin Capital Company, LLC
Griffin Capital is a leading alternative investment asset manager headquartered in El Segundo, California with offices in Irvine, California, Phoenix, Arizona, and Greenwich, Connecticut. Founded in 1995, Griffin Capital has owned, managed, sponsored or co-sponsored investment programs encompassing over $17 billion in assets. Griffin Capital’s senior executives and employees have co-invested over $300 million in its sponsored investment verticals. The privately held firm is led by a seasoned team of senior executives each with more than two decades of investment and real estate experience and who collectively have executed in excess of $21 billion in transactions.
For one example of management investments, according to recent SEC filings, the following officers of Griffin Capital Essential Asset REIT, Inc., had significant ownership of shares in the nontraded REIT, as of October 2, 2019:
| Howard S. Hirsch | Chief Legal Officer | 68,294 shares | |
| Scott A. Tausk | Managing Director | 52,531 shares | |
| Louis K. Sohn | Managing Director | 59,112 shares | |
| Michael J. Escalante | CEO and President | 740,991 shares | |
| Javier F. Bitar | CFO | 105,068 shares |
Griffin Capital’s alternative investment solutions include three groups of complementary products: actively managed interval funds in the company’s Institutional Access® fund family, non-listed real estate investment trusts (REITs) and tax-advantaged private real estate strategies. The firm’s investment strategies include diversified core real estate and global corporate credit securities, as well as direct real estate ownership in sector-specific portfolios focused on net leased essential office and industrial assets, clinical healthcare properties, and multifamily real estate.
These solutions include: Griffin Institutional Access® Credit Fund, Griffin Institutional Access® Real Estate Fund, Griffin Capital Essential Asset® REIT featuring NextNAV™, Griffin Institutional Property Exchange DSTs, and a Qualified Opportunity Zone fund. Griffin Capital Securities, LLC, Member FINRA/SIPC, is the dealer manager and/or exclusive wholesale marketing agent for its REITs, Interval Funds and private offerings sponsored and/or co-sponsored by Griffin Capital Company, LLC, which offerings are distributed to investors through independent and insurance broker-dealers, national wirehouses and registered investment advisors. Additional information is available at www.griffincapital.com.
Sources: www.businesswire.com, SEC
