Private Credit Expert Builds $800M Fortune
Leonard Tannenbaum, a Wall Street dealmaker, built an $800 million fortune largely through fee-rich investments in business development companies (BDCs). His ventures, including a failed cannabis-focused lender, have faced significant losses, legal disputes, and shareholder losses, yet he continues to profit personally from management fees and dividends. Despite setbacks in his marijuana financing and related lawsuits, Tannenbaum is shifting toward new investments in enterprise software loans, maintaining a focus on profitable fee structures.
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