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SEC opens probe into Guggenheim over real estate transactions

Wall Street watchdogs are sniffing around the sale of David Geffen’s $85 million Malibu compound to Guggenheim Partners’ chief executive as well as other transactions with ties to the asset manager. The Securities and Exchange Commission has launched an investigation into a Guggenheim subsidiary amid a chaotic time at the $305 billion asset manager, marked by reported infighting between the firm’s top brass: chief executive Mark Walter and chief investment officer Scott Minerd. At issue for the SEC’s enforcement division are three Los Angeles-based real estate transactions and a 2016 loan made by ABS Capital, which is owned by two Guggenheim alums, to BCBG Max Azria Group, The Wall Street Journal first reported, citing source ...