Large GPB Fund Posts Revenue and Income Growth

Posted on May 26th, 2022 at 10:42 AM
Large GPB Fund Posts Revenue and Income Growth

From the Desk of Jim Eccleston at Eccleston Law:

After considerable delay, GPB Capital Holdings finally has released financial statements to its investors regarding one of its largest funds. 

GPB, which raised $645.8 million from investors in its private placements, is four years late in releasing financial statements to its investors. According to GPB’s registration filing with the SEC, net income increased to $166.3 million in 2021 after suffering a $28.3 million loss in 2019. Additionally, total revenues increased by 37.5% to $153.4 million over the same period. While GPB began selling private placements in 2013 and has raised $1.8 billion, the company has failed to pay investor distributions since 2018. At least 60 financial advisory firms had agreed to sell GPB private placements.

GPB struggled and was forced to cut distributions for some private placements after the company missed its deadline to file financial statements for its two largest private funds in 2018. The company recently released a statement indicating that there are no immediate plans to pay distributions to investors. 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

 
 

Tags: eccleston law, gpb capital holdings, investors

Return to Archive

TESTIMONIALS

Previous
Next

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

February 22, 2024
Key Considerations for Advisors When Assessing the Financial Soundness of Annuities

While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain factors in their assessment process.

February 21, 2024
SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.

February 20, 2024
Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).