Key Takeaways
- • Fairbridge Asset Management plans to wind down two private credit funds, Fairbridge Partners LP and Fairbridge Partners Cayman LP, after investors sought to withdraw nearly 25% of roughly $400 million in assets, according to Crain's New York Business.
- • The funds declined approximately 4% in September, recording $11 million in writedowns and roughly $7 million in additional losses tied to real estate exposure.
- • The U.S. Securities and Exchange Commission reached out via email to James McManus, founder of the Center for Private Credit Accountability, inviting him to discuss information concerning Fairbridge; the SEC declined to comment.
- • This report is a press release distributed through EIN Presswire and promotes McManus and his nonprofit; the fund wind-down details are attributed to Crain's reporting rather than independently verified.
Summary
According to Crain's New York Business, Fairbridge Asset Management is winding down two private credit funds, Fairbridge Partners LP and Fairbridge Partners Cayman LP, following significant real estate losses and investor withdrawal requests. Investors sought to withdraw nearly 25% of the funds' approximately $400 million in combined assets. The funds declined about 4% in September, recording $11 million in writedowns and roughly $7 million in additional losses.
The November 10 Crain's report also states that James McManus, a real estate developer and founder of the Center for Private Credit Accountability (CPCA), received an email from two attorneys at the Securities and Exchange Commission inviting him to discuss information concerning Fairbridge. The SEC declined to comment on the matter.
This story was distributed as a November 11, 2026 press release via EIN Presswire, and its content is largely promotional in nature. McManus, described as a fraud expert, is a New York and Connecticut-based developer with more than three decades of experience in construction and real estate. He established the Harlem-based CPCA, a nonprofit that says it seeks to promote transparency and accountability in private lending. He says the organization highlights gaps in judicial safeguards and financial oversight that can leave investors facing substantial losses and borrowers at risk of losing properties and development projects.
McManus is calling on lawmakers, public officials, and financial experts to establish enforceable rules governing lending practices for private credit companies and the institutions that finance them. He also urged the U.S. Department of Justice to investigate potential wrongdoing involving private credit companies and their partners. According to McManus, investors in Canada and the United Kingdom have contacted CPCA and his attorney, Andrew Laufer, seeking assistance. The release does not include independent verification of the allegations and relies on McManus's own characterizations.
The November 10 Crain's report also states that James McManus, a real estate developer and founder of the Center for Private Credit Accountability (CPCA), received an email from two attorneys at the Securities and Exchange Commission inviting him to discuss information concerning Fairbridge. The SEC declined to comment on the matter.
This story was distributed as a November 11, 2026 press release via EIN Presswire, and its content is largely promotional in nature. McManus, described as a fraud expert, is a New York and Connecticut-based developer with more than three decades of experience in construction and real estate. He established the Harlem-based CPCA, a nonprofit that says it seeks to promote transparency and accountability in private lending. He says the organization highlights gaps in judicial safeguards and financial oversight that can leave investors facing substantial losses and borrowers at risk of losing properties and development projects.
McManus is calling on lawmakers, public officials, and financial experts to establish enforceable rules governing lending practices for private credit companies and the institutions that finance them. He also urged the U.S. Department of Justice to investigate potential wrongdoing involving private credit companies and their partners. According to McManus, investors in Canada and the United Kingdom have contacted CPCA and his attorney, Andrew Laufer, seeking assistance. The release does not include independent verification of the allegations and relies on McManus's own characterizations.
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