Markstone LPs Will Stay – Gillerman

Markstone Capital, whose former chairman, Elliot Broidy, pleaded guilty to bribing pension officials in exchange for capital commitments, does not anticipate any limited partners to back out of its investment funds, its new chairman told Reuters on Dec. 6.

“We haven’t had any indications that [investors pulling out] will happen, and we don’t expect them to either,” Dan Gillerman, former Israeli ambassador to the United Nations, told Reuters by phone from London.

Gillerman was swiftly named chairman of Markstone Capital—which has an $800 million U.S.-Israeli investment fund—after Broidy pleaded guilty to paying $1 million in gifts to four senior officials who managed New York State’s pension fund in exchange $250 million in capital commitments.

New York Attorney General Andrew Cuomo said Markstone Capital was still being investigated. However, Gillerman said the company was not being investigated, and that he would use all of his energy to restoring investors’ confidence in the fund.

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