The New Distribution Schedule
Earlier this year we introduced improved visibility into payment statuses for each investment in the “My Portfolio” page. We are also implementing a roadmap of improvements to the asset management side of our business. And, as we continue to grow, we are committed to offering full transparency to all our constituents. To that effect we are implementing new reconciliation standards to ensure payment accuracy in a timely manner for this new level of scale. Starting January 1, 2019 we will change our process by running distributions on a new schedule which might affect timing on some of your investments.
- Monthly distributions will be run within 45 days of the effective period end date.
- Quarterly distributions will be run within 60 days of the effective period end date.
While we strive to compress the time it takes us to make distributions, we made this decision in consideration of variance in receipt of payment from our sponsors. Payments by check are not as timely as payments by wire or bank to bank transfer (ACH). Additionally, we weighed payment accuracy / reconciliation ahead of timeliness.
We believe this will make payment more predictable and scalable as we grow together.
Please Welcome Henry Kwong
As the size of our business and property portfolio has grown to a new level, EquityMultiple is committed to support its growth by adding proven talent and investment management experience to our platform. To that end, we recently welcomed Henry Kwong to the team as Senior Director of Asset Management. He is responsible for managing EquityMultiple’s growing investment portfolio, and brings a wealth of institutional asset management expertise to the company. Henry joined EquityMultiple from Clarion Partners, where he helped manage a $4billion institutional multifamily open-end fund. Prior to Clarion, Henry worked at MMI Advisors, a boutique real estate advisory firm that he co-founded. Before MMI,
he was a Vice President of Portfolio Management at ING and Cerberus. Some asset management initiatives we’re working on include: developing asset management standards on business planning and operations management; setting up proper resources and technology infrastructures to efficiently collect information from sponsors, enabling EquityMultiple to monitor property performance and to develop sound and economic strategies to avert the assets from exposures to risks; enhancing current investor reporting capability.
Timely, transparent reporting and vigilant asset management will continue to be a defining focus of our business as we grow.
As always, we’ll continue to update you on our company’s developments. In the meantime, let us know if you have any feedback – firstname.lastname@example.org