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A unit of Blackstone Group has acquired a stake in Mavik Capital Management, which, according to Bloomberg, is seeking to capitalize on “significant stress” brought on by the Covid-19 pandemic. The stake is described as a “small, passive” one through its secondaries business, people familiar with the transaction told Bloomberg

Separately, a Securities and Exchange filing shows that MAVIK Capital Management, an entity controlled by Vikram S. Uppal, the CEO of Terra Property Trust, acquired the outstanding interests in Terra Capital Partners. As part of the recapitalization, “a private fund managed by a division of a publicly-traded alternative asset manager with more than $500 billion in assets under management, acquired a passive interest consisting of “non-voting securities,”….in MAVIK.” 

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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