This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IPOs Focused on Financials

Stocks in this article: CWH SIR NSM

The growth for Select Income will come from taking advantage of real estate opportunities now as there is less competition from well-capitalized investors. But that cuts both ways, as SIR is affected by declines in tourism in Hawaii. Investors in SIR will be making a stand on a strong rental market in Hawaii. If the economy continues in its recovery, then more people will be heading to Hawaii.





Crescent Capital (CCFG) is the third financial company that plans to go public as it tries to raise $125 million. The shares are expected to price at $15.

Crescent Capital is planning to buy a portfolio of $75 million in junk bonds from Trust Company of the West . Crescent's structure is a little different in that is it a business development corporation. It is a registered investment company and is taxed like a REIT. REIT's pay out the income from real estate properties and Crescent will pay out the income it earns from its junk bonds. However, Crescent doesn't know its expected payout.

Gaskins suggested investors go with an established BDC, like Apollo Investments (AINV) or Blackrock Kelso (BKCC). He is also concerned that Crescent said it had $11 billion in assets when TCW spun it off, but lately it said it only has $9 billion.

"Just where did that $2 billion go?" asked Gaskins.





CCFG Advisors seems to do pretty well in the deal. CCFG will pay CCFG Advisors a 2% management fee and a 20% incentive fee and give CCFG Advisors stock at the closing.

--Written by Debra Borchardt in New York.



>To contact the writer of this article, click here: Debra Borchardt.

>To follow the writer on Twitter, go to http://twitter.com/wallandbroad.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs