PPR closing out their 12% investors
I received an email from Dave Van Horn saying that PPR has access to cheaper money now so they are closing out their 12% fund and returning the principal. They have every right to do that per their contract.
I invested in PPR because they had a stellar reputation on BP. I am sorry that PPR has chosen not to fulfill the entire term of the fund. I invested shortly before the fund closed to new investors, and I have less than a year left on my contract so I am surprised that the extra 2% is so important to Dave. I'm sure to Dave, it is just business. For me, I'm just disappointed.