Investment Opportunity: Robert Lindner (left), John Carrick launch a real estate fund.

Investment Opportunity: Robert Lindner (left), John Carrick launch a real estate fund. Photo by integrated capital

Playa Vista-based Integrated Capital Management has raised $30 million for a private equity fund that will target investments in commercial real estate across the United States.

One of the fund’s seed investors is Burbank-based Shamrock Holdings Inc., which serves as the investment vehicle for certain members of the Roy Disney Family.

Roy Edward Disney, who passed away in 2009, was a senior executive for Walt Disney Co., which his father Roy Oliver Disney and uncle Walt Disney founded.

Known as Integrated Realty Capital I, the firm’s new real estate private equity fund was launched by Integrated Capital co-founders and real estate finance industry veterans John Carrick and Robert Lindner.

Lindner said in an interview that the fund will invest $1 million to $3 million “slivers” in a range of larger projects, from apartments to student housing, condominiums, offices and retail buildings.

"To date, up to 30% of the fund has been committed in projects in Southern California and Atlanta, Ga., estimated to cost $320 million total," Lindner said.

The fund anticipates a portfolio of $1.5 billion in total capitalization. “We don’t redline any market or asset class,” Lindner said.

The fund’s investors include large family offices, or family-controlled investment groups; registered investment advisers; wealthy individuals; and foreign capital sources.

Lindner is a former senior managing director at Newmark Knight Frank, a commercial real estate advisory firm whose parent is Newmark Group Inc. He also worked for London-based PricewaterhouseCoopers in New York City as a strategy and process improvement consultant.

Carrick is an attorney and investment banker who formerly was a counsel for the U.S. government’s Resolution Trust Corp., which helped dispose of assets taken from failed savings and loans in the early 1990s.

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Highview buys fire protection firm

Brentwood-based private equity firm Highview Capital purchased Frontier Fire Protection, a 59-year-old fire protection services company based in Denver, and which serves four states in the Western United States.Terms were not disclosed.

The company has established a network of general contractor customers across a range of end-markets, including apartment buildings, homes, factories, schools, office buildings, senior housing and retailers.

Frontier recently expanded in Colorado and Utah, and plans to expand further with the capital infusion from Highview.

“Frontier Fire has extraordinary potential for strategic acquisitions and expansions into new geographies,” said Ryan McCarthy, founder and senior portfolio manager of Highview Capital, in a statement.

This is the fifth company that Highview, a $500 million private equity firm, has acquired or taken an interest in since the firm’s founding in 2016 — and the third in the past year.

In July, Highview bought Carlsbad-based specialized food service distributor Good Source Solutions from private equity firm Evergreen Pacific Partners.

A year ago, Highview and Chicago-based private equity firm Victory Park Capital backed St. Louis-based American Plastics’ acquisition of manufacturers Centrex Plastics and Creative Plastic Concepts.

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B. Riley FBR’s blank check IPO trades

Sawtelle-based B. Riley FBR Inc. formed a “blank check company” that closed in its debut trading on the Nasdaq on April 9 at $10 a share. Known as B. Riley Principal Merger Corp., the company raised $125 million by offering 12.5 million shares at a price of $10 each and trades under the symbol of BRPM.

Blank check IPOs — or special-purpose acquisition companies, known as SPACs, — tend to trade around their IPO prices.

The company aims to affect “a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses,” according to a filing with the Securities and Exchange Commission.

The blank check company, which will focus on businesses with an enterprise value of $300 million to $1 billion, is to be headquartered in New York.

B. Riley FBR Inc. is a wholly owned subsidiary of Woodland Hills-based B. Riley Financial Inc.

Have a deal tip? Pat Maio can be reached at pmaio@labusinessjournal.com or (323) 556-8329.

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