02.01.23 News MassPRIM Releases Emerging, Diverse Program Report Your $499/year EMM subscription includes: Monthly newsletters with the most pertinent headlines of the month. OUR CLIENTS. The Staff Copyright 2023 Asset International, Inc. All Rights Reserved. NEWARK, N.J., May 11, 2021 /PRNewswire/ -- Blueprint Capital Advisors, LLC, secured a crucial ruling in the Superior Court of New Jersey in Mercer County last week in its public records. The radiocentric structure of Argentina has its apex in Buenos Aires. On June 23, Blueprint Capital Advisors, a Black-owned asset management firm, sued the state of New Jersey, BlackRock Alternative Advisors and Cliffwater LLC alleging racial discrimination, retaliation and fraud. From project sourcing, design and permitting right through to sale, we are with our builders every step of the way. GCM Grosvenor Looks To Elevate Emerging, Diverse PE Firms, Emerging Mgrs. 1962(c)(Against the DOI, McDonough, Rosenstock, Dini Ajmani, BlackRock and Walsh), Count Ten: Racketeering in Violation of 18 U.S.C. Nor have we found any evidence that BlackRock improperly received any materials or other information regarding Blueprints plans or proposal as alleged, Mark McCombe, senior managing director and chief client officer at the firm, said in the statement. But slowing profits in other sectors and rising interest rates are warning signs. Cookie Settings/Do Not Sell My Personal Information. We specialize in servicing institutional investors and wealthy families through discretionary and investment advisory services. Until Freedom to Host Direct Action Urging Louisville Police to Arrest the Cops Who Killed Breonna Taylor, RACE FORWARD COMMENDS BIDEN ADMINISTRATION ON RELEASE OF SECOND HISTORIC RACIAL EQUITY EXECUTIVE ORDER, Ahead of the 2023 State of the Union, Race Forward Urged President Biden to Continue Leaning into Commitment to Advance Racial Equity, In his 2023 State of the Union Address, Advocates Want to Hear How President Biden Will Expand Voting Rights, Address Unfair and Inequitable Redistricting Maps, Black Southern Womens Collaborative Member in Memphis: We Will Not Go Back to the Same Oppressive Systems. Oops! A spokesperson for the New Jersey Treasury Department argued that the department is committed to providing opportunities for Minority and Women-owned business enterprises, and said the department will defend against the lawsuit. The Biden administration is preparing a new program that could prohibit American investment in certain sectors in China, a step to guard U.S. technological advantages amid a growing competition between the worlds two largest economies. New York, NY 10010. Follow @SaveJersey Blueprint Capital 2023. The Black-owned New Jersey firm sued the state's division of investments, its outside consultant Cliffwater and BlackRock for alleged racial discrimination and theft of confidential business information. SaveJersey.com's Network of Contributors keeps you up-to-date on everything worth knowing in the Garden State. The company has been scrutinized over fake reviews and criticized by customers who had trouble getting refunds. The case is. Thats why more than 150 real estate professionals know to call Blueprint if their clients have land suitable for development. esgSubNav, Discover more about S&P Globals offerings. Blueprint was founded in 2015 by Black investment professionals Jacob Walthour and Carrie Pickett. It continued: We will defend this matter vigorously and believe that the claims against Cliffwater have no merit., Corporations Are Agreeing More to CalPERS Diversity Demands, Lawmakers Introduce Bill to Boost Diversity at Asset Management Firms, Diversity Not a Priority for Asset Managers, Tags: BlackRock, Blueprint Capital Advisors, Division of Investment, Governor of New Jersey, Lawsuit, New Jersey, Phil Murphy, racial discrimination, Pennsylvania Fund Debates How Best to Invest in Todays Environment, 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. Blueprint Capital is a leader in residential development. Photocopy permission is available solely through GRLM, LLC, Financial Investment The firm was founded on the premise of "We are different - we care about people and profit." In 2015, Jacob co-founded Blueprint Capital Advisors which became one of the fastest growing Black-owned asset management firms in the nation and today oversees in excess of $1 billion on behalf of wealthy individuals and institutional investors. 24/7 unlimited online access to subscription content on the EMM site. LLC. Blueprint claims that BlackRock Inc., reportedly the world's largest asset manager with just under $8 trillion in total assets, and Owl Rock Capital (now BlueOwl Capital Inc.), with about. Connect On Monday, the investment firm amended its summer 2020 discrimination complaint against the State of New Jersey to add the Governor, some of his top aides, and even bombshell federal racketeering allegations again certain defendants. The initial complaints timeline of alleged transgressions began in 2015 during the Christie Administration. Our 100-page detailed complaint speaks for itself and Governor Murphy should fix this before a Federal court does.. Our projects generally have fewer than 100 units with rent levels targeted at people making 60-80% of the area median income, which is a common definition of affordable workforce housing.Our real estate development activities in the Phoenix area are focused on urban multi-family and build-to-rent communities. 1983(Against McDonough, Amon, Ajmani, and Helmy in their individual capacities), Count Six: Violation of 42 U.S.C. News, 15 West 26th Street, 4th Fl. New Jersey, BlackRock Sued for Alleged Discrimination and Theft Get Started Asset manager Blueprint Capital Advisors sued New Jersey's Division of Investment and BlackRock Inc., claiming they stole confidential business information and discriminated against the. "Its time to stop delaying justice," said Walthour. BlackRock, Inc. BLK and New Jersey's Division of Investment ("DOI") have been sued by Blueprint Capital Advisors for stealing confidential business information and discriminating against the. Capital Advisors Group, Inc. 29 Crafts Street Suite 270 Newton, MA 02458. A review of Blueprints allegations by BlackRock and an outside law firm has found nothing inconsistent with our standards nor anything suggesting any wrongdoing by BlackRock. Our clients receive a holistic legal perspective, efficient law management, and cost-effective solutions on complex legal matters. New Jersey DOI v Blueprint Capital Advisors - PR New York NY document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 - Spotlight PR - All Rights Reserved Blueprint Capital Advisors Gets Court Date In NJ DOI Lawsuit Federal Judge Permits Racketeering Allegations by Black Firm Against Blueprint Capital Advisors LLC | Newark NJ - Facebook On June 23, Blueprint Capital Advisors, a Black-owned . We are the number one source of financing for in-fill, residential projects due to our unrivaled combination of reliability and value-added service. Black-Owned Investment Firm Accuses NJ, BlackRock Of Bias False statements or omissions may result in denial of your application, revocation of your registration, or criminal Blueprint offers builders value-added services during the entire development lifecycle in addition to financing. Governor Murphy was quoted as saying, "justice delayed is justice denied" in a recent public address. Required fields are marked *. The letter states, "We believe that this is yet another example of the administration saying one thing for election purposes but conducting the people's business in ways completely inconsistent with those public election pledges.". Black-owned firm sues after N.J. official allegedly says state is 'not When typing in this field, a list of search results will appear and be automatically updated as you type. According to Blueprint, the firm was told that the State Investment Council was not a fan of investing with women and minority-owned firms.. Blueprint Capital Advisors, one of the few investment firms founded by an African American executive, charged in a lawsuit that DOI officials told its CEO, Jacob Walthour Jr., that the agency had "an aversion" to choosing a Black- or female-owned money management firm. A major producer of soybeans, corn and wheat, Argentina is one of the world's top grains exporters, which provides crucial hard currency for the country's cash-strapped central bank. Please stay up to date with what we are up to by liking our Facebook page: Blueprint Capital Advisors LLC. We have investigated the allegations made by Blueprint and have found no evidence whatsoever. Practus, LLP Virtual Law | A Law Practice with a New Perspective Blueprint currently sponsors two real estate investment trusts: Blueprint Capital Income REIT, Inc. which encompasses our lending business; and Blueprint Capital REIT, Inc. which develops our rental real estate projects.Blueprint Capital Income REIT focuses on providing stockholders with current income in the form of quarterly dividends whereas Blueprint Capital REIT seeks to provide stockholders with long-term capital appreciation through development projects. We have decades of local experience and a well-earned reputation as Seattles leading developer of in-fill, residential projects. Blueprint Capital Advisors brought a racial discrimination, theft, fraud and racketeering lawsuit against the state of New Jersey and Larry Fink's Blackrock, OwlRock LLC and Cliffwater LLC. All Rights Reserved. The dispute began in 2015, under Gov. Whether you are interested in selling your land to Blueprint, connecting about development services, or just reaching out to say hi, please complete the form below: Do you have land you think Blueprint would be interested in? Capital Advisors Group, Inc. | Insight. Independence. Focus. NEWARK, N.J., March 22, 2021 /PRNewswire/ -- "Blueprint Capital Advisors stands solidly behind Pastor David Jefferson Sr. Esq.," according to Blueprint CEO Jacob Walthour, Jr. Pastor Jefferson of . This copy is for your personal, non-commercial use only. content latest-news-headlines Nor have we found any evidence that BlackRock improperly received any materials or other information regarding Blueprints plans or proposal as alleged, said Mark McCombe, BlackRocks chief client officer. Blueprints FAIR program structures alternative investments through managed accounts or fund-of-one structures, the lawsuit said. The legal action named the DOI, BlackRock, and Cliffwater as defendants. With our. We Will Move, March, Protest, Organize, Power Build, and Strategize Until Demands Are Met, Race Forward Urges Systemic Change in Light of Police Killing of Tyre Nichols; Continued Police Violence Against People of Color. Copying, photocopying or duplicating this publication More Local News to Love Start today for 50% off Expires 3/6/23, Kelly Heyboer | NJ Advance Media for NJ.com, racial discrimination, retaliation and the theft, McDonough, who stepped down from his state post in 2018. For Immediate Release. NEWARK, N.J., Oct. 26, 2021 /PRNewswire/ -- Blueprint Capital Advisors CEO & Co-Founder Jacob Walthour, Jr. has been named to ROI NJ's People of Color Influencers for 2021. 1962(d), Count Eleven: Racketeering in Violation of N.J.S.A. Black-Owned Asset Manager Sues NJ Pension Fund, BlackRock for Racial Bias, Pennsylvania Fund Debates How Best to Invest in Todays Environment. Counsel information for the defendants was not available. Now, Blueprint received information from a credible source regarding what appears to be attempts to tortiously interfere with Blueprints business dealings, allegedly calling the firms clients with the intent of getting them to terminate or reduce their relationship with Blueprint. Blueprint Capital We recognize the systemic challenges facing minority-owned firms in our industry and are committed to promoting positive change, McCombe said. Blueprint Capital Advisors, one of the few investment firms founded by an African American executive, charged in a lawsuit that DOI officials told its CEO, Jacob Walthour Jr., that the agency had an aversion to choosing a Black- or female-owned money management firm. 769 likes. Blueprint Capital Advisors sues New Jersey, 2 firms for bias, theft Blueprint Capital Advisors LLC is an independent, privately held alternative investment firm focused sourcing and managing fund and direct investments in private credit and other alternative . from 8 AM - 9 PM ET. Blueprint Capital Advisors LLC is a large advisory firm based in New York. Blueprint Sues; Judge Compels Gov. Murphy to Release Public Documents We have investigated the allegations made by Blueprint and have found no evidence whatsoever. 2C:41-2(c) and (d), Count 20: Tortious Interference with Prospective Economic Advantage. and have provided over $2 billion in construction financing. This landmark case is about affording equal access and exposing the veil of inequality that exists in the asset management and financial services sector for Black Americans in New Jersey and this country.. Get up-to-date investment manager search leads, industry trends and investor profiles. 1962(d)(Against the DOI, McDonough, Rosenstock, Ajmani, Walsh, and BlackRock), Count Eleven: Racketeering in Violation of N.J.S.A. If DOI and its officials (including, but not limited to, Mr. Amon) are somehow still ignorant (which is no excuse or defense) of the fact that Blueprints assertion of legal claims and the filing of its lawsuit are legally protected against retaliation by the Defendants, then this letter is their written notice that they must stop such conduct right now.. 0. Blueprint CEO Jacob Walthour named to New Jersey's People of Color of Blueprint also said the state agency retaliated against it for raising discrimination concerns. After months of due diligence, Blueprint learned that BlackRock had received Blueprints materials and would co-opt its FAIR program. This is his second . Blueprint Capital Advisors (Blueprint) is New Jerseys only Black asset manager firm. One of the nations few Black-owned investment firms is suing New Jersey after a business proposal was rejected and an official allegedly said the states investment council is not a fan of investing with women and minority-owned firms.. Ensure you aren't missing business leads that your competitors are seeing. The lawsuit also said that DOI, which oversees the state pension fund, and its consultant, Cliffwater, handed over confidential information that Blueprint had given them about its proposal to BlackRock. Chris Christies administration, when Blueprint developed a proposal, called FAIR, that detailed a new investment strategy for the state pension fund that the firm said would save New Jersey money on high fees charged by hedge funds. Scroll . Black-owned asset manager sues NJ for racial bias and theft U.S. District Judge Julien Xavier Neals ruled BlackRock, the world's largest asset manager with just under $8 trillion in total assets, and BlueOwl, with about $65.7 billion in . Nationally Syndicated Talk Show Host Roland Martin Headlines Racial and Ohio STRS Loses 9.52% in 2022, Board Rejects Neville Vote of Confidence, Stocks, BondsHah! document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); You have a question, and we have an answer.Your answer is only a click away. 2023 Advance Local Media LLC. For photocopy permission, back issues and !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)? Blueprint alleges pension staff made efforts to block it from investing state money and turned against the firm after it spoke up about being treated unfairly. You're welcome! 1962(c), Count Ten: Racketeering in Violation of 18 U.S.C. 2C:41-2(c)(Against the DOI, McDonough, Rosenstock, Ajmani, Walsh, and BlackRock), Count Twelve: Racketeering in Violation of N.J.S.A. Cliffwater dismissed the charges as having "no merit," and BlackRock denied wrongdoing on the matter or having any knowledge about Blueprint's prior talks with the state, Bloomberg News reported, citing statements from the firms. However, Blueprint alleges that the state's attorneys have consistently tried to prevent the release of public information in the matter of Blueprint. Slumping tech and property activity arent yet pushing the broader economy into recession. BlackRock Sued by Blueprint for Theft, Racial Discrimination All rights reserved (About Us). 24/7 unlimited online access to subscription content on the EMM site. Blueprint is aiming to get unredacted documents by taking Murphy back to court. NY Common Names Interim EM Program Director, Copyright Notice: Copyright 2020 by Financial Investment News (FIN) and GRLM, According to the lawsuit, Blueprint had turned over to the state agency and its outside consultant Cliffwater confidential business information from meetings, emails and conference calls as part of an investment proposal. 10/2021 8/12/2022 7:18:30 PM WARNING: Complete this form truthfully. 2C:41-2(c) and (d)(Against Cliffwater and Owl Rock), Count 14: Fraud(Against McDonough, MacDonald, Rosenstock, Amon, Cliffwater, and Walsh), Count 15: Aiding and Abetting Fraud(Against BlackRock and Owl Rock), Count 16: Unfair Competition(Against BlackRock, Cliffwater, and Owl Rock), Count 17: Breach of Contract(Against Cliffwater), Count 18: Breach of Contract(Against Walsh), Count 19: Breach of Fiduciary Duty(Against Walsh), Count 20: Tortious Interference with Prospective Economic Advantage(Against McDonough, MacDonald, Rosenstock, Amon, Ajmani, Greene and Platkin in theirindividual capacities), Count 21: Commercial Disparagement(Against Rosenstock, Green, Platkin, and Cliffwater), Count 22: Civil Conspiracy(Against McDonough, MacDonald, Rosenstock, Amon, Ajmani, Cliffwater, Walsh, and OwlRock), Murphy abandons travel advisory metrics, warns N.J. to avoid interstate travel this Thanksgiving. BlackRock, one of the worlds largest money management firms, was ultimately chosen to implement a version of the investment strategy for New Jersey using the same program name -- FAIR, short for Fund Alignment and Incentive Reform. https://www.wsj.com/articles/black-owned-investment-firm-sues-new-jersey-for-racial-bias-11592957026. It was necessary to file this complaint in a court of law, said Jacob Walthour Jr., Blueprints co-founder and CEO. NEWARK, N.J., May 11, 2021 /PRNewswire/ --Blueprint Capital Advisors, LLC, secured a crucial ruling in the Superior Court of New Jersey in Mercer County last week in its public records lawsuit against Governor Phil Murphy's administration when Superior Court Judge Mary Jacobson ordered the administration to produce documents no later than May 7, 2021. Cision Distribution 888-776-0942
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