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Continued: St. Anthony: Pine River takes on housing bust as investor and landlord

  • Article by: NEAL ST. ANTHONY , Star Tribune
  • Last update: May 26, 2013 - 10:56 AM

Pine River, which manages Two Harbors and Silver Bay, was founded in 2002 by Brian Taylor, a veteran hedge fund executive who was once a partner in Minnetonka-based EBF & Associates.

There are 16 Pine River partners and 365 employees in offices in Minnetonka, New York City and Asia.

The compensation of the Two Harbors and Silver Bay executives is not disclosed due to the “external management” structure used by each. Two Harbors and Silver Bay pay 1.5 percent of their stockholders equity quarterly to Pine River Capital, which in turn pays the management teams of Silver Bay and Two Harbors.

Two Harbors paid a management fee of $33.2 million to Pine River Capital in 2012 and $14.2 million in 2011.

 

Neal St. Anthony • 612-673-7144 • nstanthony@startribune.com

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