| Scott Landress: My Career There is a lot of fake news on the web. I'm posting my career summary to balance
the scale for people close to me. 1. My Training Recognized by Columbia Business
School as my MBA class's Real Estate Merit Scholar
and 25th Reunion Chairperson, I started with nothing but enjoyed a highly productive investment career. From early childhood to 1984, I had many kinds of businesses and jobs that
taught me the value of hard work and innovation. From
1982 to 1986, I worked as an aerospace engineer starting with the title Junior Rocket Scientist, helping a professor
win a NASA grant for International Space Station design, and being awarded Top Secret clearance to work on President Reagan's
"Star Wars" missile defense system. From 1986 to 1988, I went to business school. Afterwards, I acquired or financed
billions of dollars globally in investment grade commercial real estate for top tier investment banks and opportunistic investment
managers. In 1989, I helped run my first real estate secondary investment,
the $600 Million GP-led recapitalization of a trophy office building. All these years later, that would still be
considered a large secondary investment. In 1991,
I co-founded an RTC-focused "vulture capital" fund. We did not close much, but I learned plenty. In 1993, I was one of perhaps ten people globally developing the Commercial
Mortgage-Backed Securities industry. I underwrote and approved loans and other investments, and helped educate CMBS investors
and rating agencies. We also financed and brought public new-style Real Estate Investment Trusts, and formed a ground-breaking
mezzanine fund with similarities to secondary investment funds. One of my favorite jobs ever. From 1998 to 2000, I was the Global Head and Managing Director of real estate investment banking
at the nation's largest commercial bank. I made the bank lots of money, but found it to be a deeply dysfunctional giant. 2. My Company In 2001, I had the idea
for Liquid Realty Partners (Liquid), the first and only private equity firm dedicated exclusively to real estate secondaries
investing. By "secondaries", I mean, we bought stakes in real estate funds (LP-led), and put fresh money into real
estate deals (GP-led). I wrote LRP's original business plan in my cluttered California garage. My grade school daughter cleverly
named the firm, and her concentric doodle warped into Liquid's logo From Liquid’s
founding in 2001 through 2013, I focused on strategy, fundraising and investments, and delegated Liquid’s back-office
functions. I raised $1.5 Billion, and my investments out-performed the market. From 2007 to 2012, extreme employee-led investment losses joined with investor reporting complaints and a
disruptive key-man departure quashed Liquid’s chances of raising a fifth fund. In 2012, I decided to retire from the investment industry, severanced all but one employee
and commenced Liquid’s wind-down. Later in 2012, Liquid
sued three former investment and reporting employees for theft of trade secrets, breach of duty and contract, and interference
with Liquid's business. In 2013, I completed Liquid’s transaction
services for its 2006 fund, then charged and reported Liquid’s fee. In 2014, Liquid sued a handful of investors for trying to evade Liquid’s fee. In 2017, federal investigators accused Liquid and me of inadequate historical
reporting of Liquid’s fee. The resolution of
those three disputes netted tens of millions paid to Liquid. I retain my right to apply for entry to the investment industry
at any time. 3. My Gratitude I remain ever grateful for an incredible career—the challenge of developing
large-scale investment products, the privilege of being of service to some of the world’s largest investors, and the
many good friends I made along the way. As for those few
who disappointed, I thank you for the opportunity to practice humility and compassion. Om shanti shanti shanti... | 
