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EL SEGUNDO, CA-Founder John Long of Highridge Partners has formed a new fund called Crestridge Investments LLC to finance a broad spectrum of investments both directly and indirectly in real estate, ranging from equity participations in property to funding for operating companies connected with real estate. Crestridge, which will draw on a pool of approximately $300 million, will be run by Chris Grey and David Feingold, two finance executives who are partnering with Highridge to launch the firm and who will serve as managing directors. Grey has been associated with Highridge since 1998 and Feingold since 2002, both in senior management at its Haverford Capital division. Crestridge will assume the financing role that Haverford played as a member of the Highridge group of companies that provided mezzanine capital for developers, but the new fund will have a significantly broader purview. It will build on the Haverford track record but will bring new capital and invest in new ways, Long says. According to Grey, Crestridge plans to make private placements in operating companies with a direct or indirect connection to real estate, including public companies. It will also provide venture capital to start-up companies with operations that relate to real estate or to entrepreneurs who have real estate backgrounds. Feingold emphasized that Crestridge will continue Haverford’s primary business of traditional mezzanine lending with proven local developers in niche markets, but with a more limited capacity. Over the past decade, Haverford Capital provided mezzanine financing or equity for more than 40 projects valued at more than $1 billion. Crestridge will continue to place capital as mezzanine and equity investments in West Coast property markets, but its overall portfolio will be much broader than that of Haverford, Feingold says. Before joining Highridge, Grey was an executive with Douglas Emmett Realty, Heitman Financial and JMB Institutional Real Estate. For 20 years, Feingold was managing director of Citicorp Real Estate Inc. in Los Angeles, where he managed the bank’s $2.5-billion Western US real estate lending.

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