Charles Anderson
Westlake, TX (USA)
Role(s):
Founder/Owner/Principal
Red River Strategic Recovery Fund
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Startup
Location:
Westlake
Industry:
Real Estate
Year Founded:
1997
Number Employees:
10-50 people
Description:
I am the co-managing partner of Red River Strategic Recovery Fund, a $500 million private equity fund formed to invest in distressed debt / foreclosed real estate (primarily commercial). The current market, which, in our opinion, is likely to last 5 – 7 years, offers an unprecedented opportunity in this space. The other co-managing partner and I have over 50 years of combined experience in this arena, involving over $12 billion in assets acquired, managed, and disposed from 1989 to 2005.
Our fund will target a minimum 25% pre-tax IRR at the investment level which should return an approximate minimum 20% IRR to investors. The last fund where we held senior executive and partner positions, which had $250 million in equity invested and had this same basic structure, netted over a 28% return to the investors; and that fund was done on the tail end of the last opportunistic distressed debt market (1995 – 1996). I was the president and C.O.O. of that fund’s asset management company while the co-managing partner of our new fund was our most senior and best real estate / distressed debt portfolio manager.