Commercial Real Estate Direct Staff Report
Red Oak Capital Group, a three-year-old alternative lender specializing in the small- to middle-market space, is gearing up to raise its second investment vehicle.
The Grand Rapids, Mich., lender is affiliated with Northwind Financial Corp., a brokerage and advisory firm founded and led by Chip Cummings.
The company had been originating loans, sourced by its Northwind affiliate, that would be funded by investor partners and a couple of years ago decided to raise its own capital.
It had raised $5 million for its first fund, Red Oak Capital Fund, which last year provided its investors with an 11.7 percent net yield. It's now gearing up to raise what it hopes will be up to $50 million for a follow-up fund. It's lining up broker-dealers and expects the fund will be offered to investors subject to Regulation A+, an SEC rule that's part of the Jumpstart Our Business...

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