Yahoo - Business Wire - CIM Group Fundraises, But Not as Registered “Investment Advisor,” Says UNITE HERE. According to a group called "UNITE HERE", the CIM Group has not filed as an investment adviser. According to the article this is okay because they are a real estate investment firm. Now 28 of the 30 top real estate investment firms did submit the documents and register.
Why does this matter if it is not illegal. The reason is simple, they are heavily funded by public pensions. One would think that Calpers, Lacers and the other public pensions would require their real estate investment firms to be fully transparent. How transparent is CIM Group? Lets see, practically nothing is known about two of it's owners. There is practically no information on Mr. Shaul Kuba or Mr. Avi Shemesh. Their company controls, according to their website, over $9 billion in assets.
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