Talk:John Grayken

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Additions to Philanthropy Section

Hello. I would like to request the following additions to the Philanthropy section of this article to reflect 2019 and 2022 gifts made by Grayken:

  • In February 2019, Grayken and his wife made a $10 million gift to create the Grayken Center for Treatment at South Shore Health, a non-profit, charitable health system in southeastern Massachusetts offering outpatient treatment for substance use disorders. The Center also serves pregnant and post-partum women facing behavioral health and substance use disorders.[1] In October of that year, Grayken matched donations to the Hart Speech Foundation for the treatment of stutters and other speech impediments.[2]
  • Grayken and his wife made a 2022 donation of £50 million to the Great Ormond Street Hospital, earmarking the funds to find new and better ways to treat childhood illnesses.[3]

As per the COI guidelines, I am not editing the page to insert these details myself. I appreciate the community's help in making these updates. Thank you ChristinaforLoneStarFunds (talk) 19:36, 30 November 2022 (UTC)[reply]

I have made these edits and closed the edit request. Interested users should look to see if there are any reductions that can be made in this information. Go4thProsper (talk) 21:02, 30 November 2022 (UTC)[reply]
Thank you Go4thProsper for your prompt action on this request. I appreciate your help and will be in touch if I make additional edit requests here if that's OK? ChristinaforLoneStarFunds (talk) 13:10, 1 December 2022 (UTC)[reply]

References

  1. ^ DiFazio, Joe (27 February 2020). "Mobile unit ready to roll: South Shore Health looks to expand bare beyond hospital walls". Patriot Ledger.
  2. ^ "Cohasset Philanthropist offers to match donations up to $1 Million to Plymouth, MA-based Hart Speech Foundation". 24 October 2019.
  3. ^ Daniel, Hugo (26 June 2022). "Couple donate £50m to children's hospital that saved newphew". Times UK.

Career content additions

I am asking to make the following additions to this article:

  • In the lede, to include an updated and relevant net worth: Forbes magazine listed Grayken's wealth as totaling $6.5 billion and ranked him 386th in the list of World's Billionaires for 2021.[1]
  • Expand the career section as follows:
    • Revise the first sentence to include more about Bass's business to read: Grayken first worked at Morgan Stanley, before joining the RMB Realty Group, the real estate investment firm of Texas billionaire Robert Bass.[2][3]
    • Add the following content: Grayken served as the managing general director of The Brazos Fund L.P.,[4] which Bass created during the U.S. savings and loan crisis[5][6] to buy troubled assets for sale by the Resolution Trust Corporation in 1988, after the RTC legitimized portfolio sales for disposing of distressed properties and mortgages in bulk.[7] Bass contributed about 10% to Brazos Fund’s $250 million capital base, which enabled Grayken to pursue his first cross-border deal in Canada.[8]
Grayken also created an affiliate to the Brazos Fund to manage the assets purchased by the fund called Brazos Advisors, L.L.C.,[9] which was renamed Hudson Advisors in 1997.[10]
Grayken also led the Fund’s real estate investments in Canada.[11] In 1996, Brazos bought a pool of non-performing assets from the National Bank of Canada,[12] and, later the same year, Grayken began raising a second fund independent of Bass.[13]
  • Add more to the paragraph about Lone Star Fund: That same year, Grayken said that Lone Star Opportunity Fund LP, the successor to Brazos Fund LP, would earmark "at least a third and up to a half" of its funds for investment in Canada.[14] The Lone Star Opportunity Fund raised at least $450 million from investors by 1997.[15] Since founding Lone Star, Grayken has invested in each of the 21 funds launched by Lone Star; he typically commits 5% or more.[16]
  • Include additional detail: In 2011, as the Irish Bank Resolution Corporation began selling troubled assets, Grayken offered to buy the IRBC's entire €22 billion loan book, and ended up buying half of it for €4.8 billion in 2012 at a discount of more than 30%.[17]

References

  1. ^ Slattery, Laura (5 April 2022). "Ireland's nine billionaires increased collective wealth by 10.8bn last year". Irishtimes.com.
  2. ^ Strasburg, Jenny (30 July 2008). "Lone Star's Splash". WSJ. Retrieved 29 July 2015.
  3. ^ Kerch, Steve (27 May 1993). "RTC Letting Small Investors Jump in Property Pool". ChicagoTribune.com.
  4. ^ Mortgage Back Securities Letter. "Brazos Fund Holds First Closing." Vol. 10, No. 15. 10 April 1995. "John Grayken is the funds managing general partner..."
  5. ^ Effinger, Anthony; Yu, Hui-yong (1 February 2005). "Lone Star Raises $5Billion to Profit from German Woe". Bloomberg. [Grayken] began prospecting...with Texas billionaire Robert Bass during the U.S. savings-and-loan crisis in the early 1990s...Bass chose Grayken to run Brazos.
  6. ^ Brasse, Jonathan (1 March 2022). "Grayken:The man behind the mandate". Perenews.com. Grayken's first vehicle and the predecessor to the Lone Star funds, Brazos Fund, came after doing follow-on deals for Robert M. Bass.
  7. ^ Fogel, RL. "Failed Thrifts:Resolution Trust Corporation and 1988 Bank Board Resolution Actions". Office of Justice Programs.
  8. ^ Brasse, Jonathan (1 March 2022). "Grayken:The man behind the mandate". Perenews.com. Its investments also included Grayken's first cross-border deal in Canada...
  9. ^ National Mortgage News. "Brazos Fund Closes Kemper Deal." 2 January 1995 "Brazos Advisors services all of the Brazos Fund assets, including all the assets from the North American Trust deal and its share of the Kemper deal."
  10. ^ Real Estate Alert, "Brazos Manager Raises Fund." Vol.9, No.9. 10 March 1997. "Grayken's 70-member asset management team, formerly known as Brazos Advisors, recently changed its name to Hudson Advisors."
  11. ^ Partridge, John."Buyer of N.A. Trust assets plans to expand in Canada Texas billionaire Bass likes looks of property market," The Globe and Mail. 1 July 1995.
  12. newspapers.com
    .
  13. ^ Real Estate Alert, "Brazos Manager Raises Fund." Vol.9, No.9. 10 March 1997. "Through leverage and partnerships, Brazos has acquired some $2 billion of real estate. But Bass decided not to participate in the new fund. Nevertheless, many other Brazos investors are among the 20 public and private pension funds, endowments and family trusts participating in the new fund."
  14. ^ Zehr, Leonard. "Lone Star has Plans to invest in Canada," The Globe and Mail. 4 March 1997. "Lone Star hopes to earmark "at least a third and up to a half" of its funds for investment in Canada."
  15. newspapers.com
    .
  16. ^ Brasse, Jonathan (1 March 2022). "Grayken:The man behind the mandate". Perenews.com. Investors also love Grayken's alignment. His senior executives commit significant proportions of their net worth to his funds. His own skin in the game typically extends to 5 percent or more.
  17. ^ Byrne, Nicole. "Wall Street Wolfs Down Ireland Inc," Irish Mail. 3 August 2014. "During the liquidation of IBRC, Lone Star offered to buy its entire 22bn Euro loan book, but so far has only managed to buy half of it, including most of the UK loan book for 4.8bn Euro, a discount of more than 30%..."

Thank you for your help in making improvements and updating the article. ChristinaforLoneStarFunds (talk) 12:35, 13 March 2023 (UTC)[reply]

I have  Done the first two. I will return later to finish reviewing this request. HouseBlastertalk 19:10, 2 April 2023 (UTC)[reply]
I am having trouble verifying the rest of the edit request, but that is likely because I am paywalled. I will leave it for another reviewer to do. HouseBlastertalk 22:23, 2 April 2023 (UTC)[reply]
HouseBlaster, I appreciate the time you took to review and implement the first two components. I have gone back in and included quotes from paywalled or off-line sources, in the hopes that this resolves the ability to verify the remaining requested changes. Would appreciate a second glance from you and can send full copies of the offline references via email if needed.ChristinaforLoneStarFunds (talk) 13:50, 3 April 2023 (UTC)[reply]
@ChristinaforLoneStarFunds, if you could send them to me via email, I would be happy to take a look at them! Best, HouseBlastertalk 17:04, 8 April 2023 (UTC)[reply]
HouseBlaster, Thank you. I just sent you all the articles via the Wiki-email interface. It's a long message because I didn't know how to send an attachment. Appreciate your involvement and continued assistance. I'm available if you need anything else for implementation. ChristinaforLoneStarFunds (talk) 13:31, 10 April 2023 (UTC)[reply]

Hi! I have implemented all of the edit requests with the following exceptions:

  • He was the managing general partner of The Brazos Fund
  • I realized that I do in fact have access to ProQuest, which contains archives of National Mortgage News. I was able to find the 2 January 1995 edition, but it does not contain the article you mention. Was there a different issue you had in mind? In the meantime, I have held off on adding the information about Brazos Advisors.
  • I was unable to find a citation to support the assertion that The Brazos Fund was created for the purpose of buying troubled assets for sale by the RTC
  • The Globe and Mail does not say that Grayken "led" the Canadian investments
  • I felt the later the same year, Grayken began raising a second fund independent of Bass was unnecessary given the following paragraph describing that fund
  • I omitted the detail about how much Lone Star raised by 1997, as it is not about Grayken himself.
  • I was unable to verify that Grayken has invested in each of the 21 funds launched by Lone Star
  • Source 17 says that Lone Star offered €22bn, not Grayken

. Best, HouseBlastertalk 20:42, 30 April 2023 (UTC)[reply]

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