Silver Portal Capital, a San Diego real estate investment bank, is raising $100 million to $200 million in institutional capital to buy 1,500 homes.
The hedge funds, including Silver Point Capital, supported the plan.
That, the publication said, has complicated the relationship between Apollo and the other equity sponsors, Silver Point Capital and NRDC Real Estate Advisors.
Tropicana said it has secured $67 million in financing from Silver Point Capital, a hedge fund based in Greenwich, Conn.
Clipping meant the person got a new coin and a little scrap of valuable silver – a capital offence.
The parts maker finally emerged from bankruptcy in the summer of 2009, selling most of its operations to its primary lenders, led by Silver Point Capital and Elliott Management.
Two US hedge funds – Aurelius and Silver Point Capital – along with a motley assortment of investors, own more than 40% of the Co-op's debt.
But the bondholders, which include US hedge funds Aurelius Capital Management and Silver Point Capital, are to take charge of the bank under the new plan, which will see it listed on the stock market next year.
In his court testimony on Wednesday in New York, Mr. Wilson — formerly a senior executive of Silver Point Capital, a hedge fund specializing in distressed-debt investments — described some of the negotiation process that shaped G.M.'s bankruptcy case.
Aurelius Capital Management, best known for forcing Argentina to pay out on its debts, and Silver Point Capital, linked to distressed groups such as Lehman, are thought to have amassed their stakes in the bank's bonds after it was downgraded to junk in May.
