Under CEO Eugene Gorab’s leadership, the private equity firm Greenfield Partners, LLC, has continually expanded its operations since he founded the firm 21 years ago with just two employees. Beyond directing the management of over $7 billion in assets, Eugene Gorab is a member of the advocacy group Real Estate Roundtable (RER), which has placed legislative reforms on its agenda. RER proposes amending the Volcker Rule, which imposes regulations that limit the investment activity of banks and large financial institutions. The Volcker rule is part of a larger piece of financial legislation, the Dodd-Frank Wall Street Reform Act of 2010. The purpose of the rule was to avoid the type of high-risk investments that many experts believe contributed to the Great Recession of 2008. Since the rule took effect in 2015, banks cannot use deposits to engage in short-term securities trading or make speculative investments in private equity funds to earn a profit. Many representatives of the real estate industry, such as the Real Estate Roundtable, take the position that certain aspects of the Volcker Rule and Dodd-Frank Act are too restrictive and limit the amount of credit available for construction and development. Lobbyists from these groups are working to persuade Congress to reform and standardize the act’s provisions, especially those related to acquisition, development, and construction loans. Should these changes take effect, they will enable the real estate sector to obtain the capital it requires to meet current demands.
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AuthorCurrently, Eugene Gorab serves as the President and Chief Executive Officer of Greenfield Partners, LLC, a company he founded in 1997. Archives
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