Industry veterans Daniel Marinovic and Frank DelZotto to serve as CEO, CFO respectively
VAUGHAN, ON, March 2, 2021 /PRNewswire/ – The Board of Directors of Forest Gate Financial Corp. today announces the formation of Forest Gate, a new boutique private equity, private debt and real estate investment firm. To lead this new venture, the Board has appointed Daniel Marinovic as Chief Executive Officer and Managing Partner, and Frank DelZotto as Chief Financial Officer and Partner.
Forest Gate aims to become a leader in the delivery of premium risk adjusted returns. Through its sponsorship, it is uniquely positioned to respond to market growth, providing investors with singular insight and access to impactful investment opportunities – each held to clearly defined environmental, social and corporate governance goals.
“Daniel and Frank are both industry leaders with extensive track records in sourcing, investing in, developing and managing real estate across all asset classes,” said Nicholas Fidei on behalf of Forest Gate. “Their tremendous knowledge, experience and understanding of the landscape is an invaluable resource for our group.”
Prior to Forest Gate, Daniel Marinovic served as Chief Development Officer with Dream Unlimited (TSX: DRM) a leading Canadian developer and asset manager with $8 billion in assets under management. His responsibilities spanned all aspects of the organization including finance, development, construction, and operations. Daniel was also Vice-President of Finance with First Gulf, the commercial arm of Great Gulf, one of Canada’s most recognized home building and development organizations. In his career, Daniel has spent 20 years leading high-profile, complex real estate development and investment projects in municipalities across the country. Daniel is on the Board of Directors of Toronto Artscape Foundation and volunteers his time with a number of other industry and non-profit organizations.
Frank DelZotto, CPA, CA, brings more than three decades of successful entrepreneurial and accounting experience to Forest Gate. For the past 20 years, he served as Senior Equity Partner at BDO Canada LLP providing advisory services to prominent Canadian real estate families and organizations, with direct experience in land development projects. Frank compliments his work experience with rewarding roles as past Board Member and Chair of both the United Way of York Region and the Markham Board of Trade.
About Forest Gate Financial Corp
Forest Gate Financial Corp. (“Forest Gate”) is a boutique real estate private equity, private debt and advisory investment firm that specializes in delivering premium risk-adjusted returns through active and insightful advisory that contributes to prosperous and healthy communities for all. Forest Gate companies are registered with the Ontario Securities Commission as an exempt market dealer and with the Financial Securities Regulatory Authority of Ontario as a registered mortgage administrator and mortgage broker.
For more information, please contact:
Daniel Marinovic CEO and Managing Partner [email protected] 289-553-7009
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
