Black Pearl Capital Partners Purchases Equity Share in Summit Equities LLC

LONDON, Feb. 22, 2011 /PRNewswire/ -- Black Pearl Capital's private equity fund, Black Pearl Capital Partners ("BPCP"), has invested in Summit Equities LLC, a US based real-estate investment company that specializes in purchasing non-performing debt instruments and commercial real-estate properties.

"We've had great success in the UK by turning around depressed real-estate properties and we wanted to replicate that success in the US market," said Dominique Leimer, Senior Partner Black Pearl Capital. "Summit Equities has shown a deep understanding of the complex commercial real-estate market. Along with their strong relationships to local banks, they are an ideal company to align with as we continue to capitalize on the opportunities in the current market."

Summit Equities is known for its access to regional banks and its ability to procure extensive off market transactions with a dedicated focus to acquiring and managing non-performing and value add real-estate investments. Their executive team has over $1.5 billion in transactional experience giving them the potential to become a major market participant.

"The foundation of the firm is built on rigorous due diligence in all of our pursuits, acting with the highest ethical integrity, and maximizing our personal relationships to obtain direct transaction with sellers, optimizing our resources and returns. We are thrilled to have BPCP as a partner and believe in the value our collective platforms with create together," said Evan Seiden, CEO of Summit Equities LLC.

About Black Pearl Capital Partners

Black Pearl Capital Partners is a private equity fund with a committed capital of USD 50m set up and managed by Black Pearl Capital ("BPC"). BPC is an asset management and advisory firm registered in the Cayman Islands, with headquarters in Geneva, Switzerland. For more information, visit http://blackpearlcap.com.

SOURCE Black Pearl Capital Partners

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