Pacific Current Group Ltd Invests in Banner Oak Capital Partners - Corporate Call Transcript
Good day, and welcome to the investment in Banner Oak Capital conference call. Today's conference is being recorded. At this time, I would like to turn the conference over to Paul Greenwood. Please go ahead, sir.
Thank you very much, and thank you all for joining us on the call today sort of on short notice. I trust everyone had a great New Year's, and I appreciate the discussion of our new investment today is interrupting vacation time for many, so I apologize for that.
But given our announcement this morning, we want to promptly answer any questions that people may have. Earlier today, PAC announced that it's making a USD 35 million investment in Banner Oak Capital, a private real estate firm based in Dallas, Texas. In exchange for our investment, we will receive a 35% equity stake in the firm.
And before I elaborate more on the specifics of the investment, I'll provide a little bit of an overview of Banner Oak as they have a somewhat unique
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