Oct 28, 2018

Zero transparency.  Their quarterly reporting lacks any financial diligence whatsoever.  A lot of interfund dealing with themselves which leads to a lot of questions as to the merit of each deal on its own if it weren't being sold to another of it's own funds.  In 3 deals with Virtua and High Growth Fund has only made one payment - behind schedule - with an unknown holdback that was never distributed; one land deal has made one distribution - a quarter behind when it was supposed to; and final land deal has not made any distributions (unsurprisingly).  All in all not horribly unhappy with the distributions, but highly skeptical that the funds will ultimately perform and very concerned that there are dealings in the overall company that are not above board.