Monday , August 19 2019
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Donald Trump ally Tom Barrack,


Real estate conglomerate Tom Barrack, who helps his colleague Donald Trump win the White House, agreed to explore the reorganization of the colonial capital business with the pressure of less well-known activist investors.

The colony, which lost nearly half its value since Trump's inauguration in January 2017 and the tragic merger with rival Northstar, has agreed to appoint two new directors, Blackwell Capital. Both are on a special committee and have a mission to "review … issues related to the company's assets and business composition"

This announcement represents a striking victory in Blackwells' second public campaign. Founded in 2016, the fund is run by Jason Aintabi, a wealthy Canadian family member who has no outside investors and has real estate-related interests around the world. Aintabi told his colleagues that they had found something in common about Barrack and their shared Lebanese ancestors.

Colonies are owned throughout the medical, industrial and hospitality sectors. It also manages assets held by private equity sponsored by external investors.

Talks between the two sides began in September and people familiar with the situation said the colonies about two months before the administration of Richard Saltzman was removed. The move saw Barrack return to a top job where he began to cut 15% of the company's workforce to prevent greater losses than expected.

Mr. Barack had a remarkable role in Trump 's seizure of power and was sometimes controversial. He attended the Republican National Convention in 2016 and gave a prime time address to support his old friends. Earlier, he introduced the future president to Paul Manafort, the Trump campaign chairman, and is currently waiting for a ruling on fraud, disruption and conspiracy against the United States.

Mr. Barrack's company recruited Manafort's senior vice president Rick Gates as a post-election consultant, but after Gates pleaded guilty to financial fraud and Mueller lied to an investigator on an investigation into Russian interference in the 2016 election, I broke up.

Trump 's inaugural committee, chaired by Barrack, was subpoenaed by federal prosecutors in New York to request information about donors and expenses.

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