The Anatomy of Public Corruption

Alliant Formalizes Mergers & Acquisitions Group

 Alliant Formalizes Mergers & Acquisitions Group

  Jonathan Gilbert, Senior Vice President, tapped to lead newly established
                          Alliant Specialty vertical

Business Wire

NEWPORT BEACH, Calif. -- September 12, 2019

Alliant Insurance Services has announced the formation of a new brokerage
service vertical, Alliant Mergers & Acquisitions. Falling under the Alliant
Specialty retail umbrella, Alliant Mergers & Acquisitions will provide
expertise to private equity firms and alternative asset investors to ensure
transactions are executed properly and with the right risk management
techniques.

“In the last decade, there has been considerable investment by private equity
firms in specialty industries, especially within aviation, energy, healthcare,
and life sciences,” said Peter Arkley, President, Alliant Specialty. “By
combining our talented M&A team with our presence as the largest specialty
broker, Alliant truly sets the bar at a level higher than our competition can
jump.”

Headquartered in New York City with team members across the country, the
Alliant Mergers & Acquisitions group has collectively worked on over 10,000
transactions and serves over 150 private equity firms. Alliant services
include comprehensive pre-close due diligence, transactional risk placements,
brokerage services to portfolio companies, and development of procurement
initiatives.

“I am excited to be leading the charge for Alliant,” said Jonathan Gilbert,
Senior Vice President. “Our team understands and is committed to the M&A
community, and Alliant provides an excellent place for us to continue to
thrive under this formalized department and provide exceptional service to our
clients.”

About Alliant Insurance Services

Headquartered in Newport Beach, CA, Alliant Insurance Services, Inc. provides
property and casualty, workers’ compensation, employee benefits, underwriting,
surety, and financial products and services to clients nationwide, including
public entities, tribal nations, healthcare, energy and marine, law firms,
real estate, construction, financial institutions, agriculture, aviation, and
environmental. More information is available on the company’s website at
www.alliant.com.

View source version on businesswire.com:
https://www.businesswire.com/news/home/20190912005229/en/

Contact:

DIVISIONAL MEDIA INQUIRIES
Lauren Reynolds
Marketing Manager, Specialty Group
(213) 270-0118
Lauren.Reynolds@alliant.com

ALLIANT CORPORATE INQUIRIES
Nick Kopinga
Vice President, Marketing and Corporate Communications
(949) 260-5004
nkopinga@alliant.com

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Probe Finds ‘Squalor,’ Vermin and No Heat in New York City Homeless Program

 
  • U.S. 
  •  NEW YORK 
  •  TRI-STATE AREA

  • Probe Finds ‘Squalor,’ Vermin and No Heat in New York City Homeless Program

    A municipal-run program to relocate homeless shelter residents paid landlords a year of rent upfront despite the poor conditions for residents



    New York City Mayor Bill de Blasio said the city was working on improvements to a program to shelter homeless residents in homes. PHOTO: JUSTIN LANE/EPA/SHUTTERSTOCK
    A New York City-run program to relocate homeless shelter residents outside the city placed some people in apartments without heat and infested with mice and vermin, according to a report released Thursday.
    The program, called the Special One-Time Assistance, is also at the center of a lawsuit filed Monday by the mayor of Newark, N.J., who alleged Mayor Bill de Blasio and New York City placed residents in dangerous apartments in his city.
    The probe by the Department of Investigation found employees didn’t properly check some apartments before placing residents in them. The city paid landlords and brokers a year of rent upfront and additional money despite the poor conditions for residents.
    “Some SOTA families placed in housing outside of New York City were living in squalor under the roofs of unscrupulous landlords, who collected tens of thousands of dollars in rental payments upfront from the city to provide these subpar conditions with little risk of accountability for their actions,” Margaret Garnett, the agency’s commissioner, said in a statement.
    The report said the landlords couldn’t be held accountable due to a flaw in the city’s paperwork.
    Mr. de Blasio, a Democrat, said at an unrelated press conference Thursday that the program was designed to help the working poor who end up in shelters and that the city was already working on improvements.
    Some of the suggestions from the Department of Investigation report include requiring landlords to submit deed information and valid occupancy certificates, and requiring landlords to show properties are not in foreclosure.
    The initiative, which began on Aug. 31, 2017, provides one year of rent upfront anywhere in the U.S. in exchange for landlords accepting qualified tenants who lived in a Department of Homeless Services shelter.
    Tenants had to show they could make rent payments after the subsidy, and meet other qualifications, according to the city.
    A total 12,482 people, including 5,074 families, used the program through August 2019, at a cost of $89.12 million on rental payments from the city, according to a spokesman for the homeless services agency. Most of the tenants—65%—moved out of the city, mostly to nearby counties including Nassau and Westchester counties in New York, and Union and Essex counties in New Jersey. The rest stayed in New York City.
    The investigation found that although housing specialists were supposed to inspect properties in and outside of the city, many didn’t. They were also not properly trained to detect safety hazards inside the apartments if they went in, the report found.
    One Newark apartment where a family was moved to was only 42.6 degrees in the winter, which is well below the minimum standard of 68 degrees. The building was later found to have a defective boiler, according to the report.
    Many of the forms used in the program also had “defective language” that couldn’t be applied to properties outside of the city, and prevented the agency from holding these landlords and real estate brokers accountable for placing clients in bad housing. The language was specific to New York City, and eliminates these landlords from any criminal prosecution, the report found.
    Write to Katie Honan at Katie.Honan@wsj.com
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