Ira Gluskin has been disappointed with Newton Glassman for some time. A few folks on Bay Street have known about any of it. Mr. Gluskin is thinking to have kept his tongue about the matter in public configurations. That changed earlier this summer, when Mr. Gluskin informed an investment meeting that he was “a disappointed investor who’s waiting around to get my cash back” from Mr. Glassman’s money.
That was one of lots of choice feedback he made about the situation, getting the dispute between the two men into the open. Some history is to be able. Associates Inc.. Though he long ago retired as the company’s main investment officer, he retains his reputation as a guy with pointed thoughts and the sharp tongue to provide them. Glassman is a private-equity fund supervisor behind Catalyst Capital Group Inc. and its own majority-owned public company, Callidus Capital Corp.
Like Mr. Gluskin, he is known to have a pugnacious side. The Glassman operation has raised billions through the years from investors, but it offers seen better times. 14 a talk about has suffered a meltdown. 485-million. Week on the Toronto STOCK MARKET Callidus stocks closed at 44 cents last. A number of its portfolio companies, acquired by the business after initial loans went unpaid, are struggling, Callidus said at its July 2 annual meeting.
Catalyst’s private money is tied up with Callidus. The funds own more than 70 per cent of the collateral and have lent Callidus money, too. 35-million more if … Read more