Prestige Investment Group Sponsor
1.33
Website
https://prestigefundd.com/Overview
Emphasizing a commitment to the established ATM sector, the company strategically secures prime locations, capitalizing on advertising for increased revenue and reinforcing robust surcharge margins.
Address
Year Founded
2011
Operates In
N/A
Asset Classes
Accepted Investors
Accredited
highlighted review
Verified Investor
1.00
"Lack Of Communication And Transparency"
The only communications coming from Prestige pertains to continuous delay of distributions. Their initial email lacked substance (as none of the reasons for the delay in distributions stated were net new events to the business or events that would transpire overnight). It was disappointing (to say the least) when it was acknowledged that information had been known for weeks and months; yet the news about the delay in distributions came two days before they were supposed to hit the bank account. LP requests for basic information has landed in a black hole (information such as complete financials, break down of ATM fee income and unit purchases, action plan to remedy the situation, proforma, bank statements, to name a few). I am told by the syndicator I invested via in Fund 5 and 6 that they are being ghosted too (not sure I have complete confidence in that statement). This is not acceptable and I will not be investing with that operator ever again. Nor will I recommend them to anyone.
Verified Investor
1.00
"Deal failed. CEO appears to be a crook."
Best case scenario, Daryl Heller is a shady sponsor who after years of paying distributions, made a some last minute shady moves in an attempt to enrich himself at the expense of investors. Worst case, it was a Ponzi scheme all along. Investors are suing him now and he is supposedly settling. We shall see if investors actually get paid. Apparently there are multiple lawsuits in various jurisdictions and he is being investigated by the SEC as well as other regulators.
Verified Investor
1.00
"Lack Of Communication And Transparency"
The only communications coming from Prestige pertains to continuous delay of distributions. Their initial email lacked substance (as none of the reasons for the delay in distributions stated were net new events to the business or events that would transpire overnight). It was disappointing (to say the least) when it was acknowledged that information had been known for weeks and months; yet the news about the delay in distributions came two days before they were supposed to hit the bank account. LP requests for basic information has landed in a black hole (information such as complete financials, break down of ATM fee income and unit purchases, action plan to remedy the situation, proforma, bank statements, to name a few). I am told by the syndicator I invested via in Fund 5 and 6 that they are being ghosted too (not sure I have complete confidence in that statement). This is not acceptable and I will not be investing with that operator ever again. Nor will I recommend them to anyone.
Verified Investor
2.00
"Poor communication, failure to deliver"
July 2024: Very poor experience. Pattern of behavior to date: 1) Prestige fails to make distribution on agreed upon date, 2) Prestige establishes a new date for distribution after payment is missed, 3) repeat steps 1 & 2 over and over. Communication is serially tardy and provided only after a distribution is missed despite the fund manager knowing well in advance that the distribution will be late. Too numerous to count irrelevant excuses provided for repeat communication/distribution failures. Direct inquiries to management go without reply. Happy to update this review if/when things improve.