George Sandhu

George James Sandhu (born 1965) in London England is an investment banker and advisor to high net worth clients in Europe and Mexico. He is currently a principal of Palmira Advisors S.C., where he focuses on structuring investments in emerging technologies and real estate. He has worked in the hedge fund industry for over 15 years including advising and managing funds for The International Investment Group and Target Growth Fund Ltd.
For the past 20 years, Sandhu has worked in the financial industry. He attended the Cranbrook Schools in Bloomfield Hills, Michigan and graduated from the Stephen M. Ross School of Business at the University of Michigan. He currently lives in New York City and Cuernavaca, Mexico.
Financial and Investment Career
Sandhu began his career at the Chicago headquarters of Arthur Andersen where he was hired as one of the first employees in the newly create Real Estate Advisory Group in 1989. Sandhu subsequently worked for Sanwa Bank in the Real Estate loan syndication department as well as at Williams Real Estate (now FirstService Williams).
In 1996, through his European client contacts, Sandhu developed a business of selling private placement in US public companies to foreign investors under Regulation S of the Securities Act of 1933. Sandhu brought his business to Baytree Capital and become a managing director of the company, which became a leader in the PIPE business. Sandhu arranged various financings through his clients most notably the expansion capital for the famous Grand Havana Room in New York.
In 1999, Sandhu left Baytree and joined the International Investment Group, a leading investment management firm in the alternative investment market with over $400 million in assets. Sandhu served as Senior Director and managed the IIG Equity Opportunities Fund Ltd. as well as headed investment banking operations for the firm. During the same time, Sandhu helped create the Target Growth Fund Ltd., a Bermuda based hedge fund set up to invest in US private placements of public companies mainly in the technology and biotechnology arena. The fund's initial capital came from two of the biggest banks in Europe, BNP Paribas and Crédit Agricole SA, who were the largest shareholders in the fund.
While working at IIG, Sandhu was responsible for structuring and financing several transactions for the funds he advised as well as private high net worth clients. Some of the most prominent transactions include:
Sorrento Networks
In 1999, Sandhu structured and led two financings in Sorrento Networks Corp. (formerly Osicom Technologies, Inc.) The funds were used to repay convertible preferred stock issued in 1998 to a subsidiary of Credit Suisse First Boston and Castle Creek Partners.
International Fuel Technology
In 2001, Sandhu, through the IIG Equity Opportunities Fund Ltd. arranged a $3 million dollar convertible debenture financing for International Fuel Technology (IFUEL) with a commitment for an additional $3 million in follow up financing. IFUEL was one of the first companies to develop new technologies to enhance the combustion efficiency of liquid hydrocarbon fuels.
General Media
In October 2002, Sandhu acted as the investment banker in the acquisition of 99.5% of General Media, Inc., the parent company of Penthouse magazine by a public company. General Media subsequently went in Chapter 11 bankruptcy. Sandhu led an investment group along with Gian Luigi Buitoni, the former president and CEO of North American Ferrari and former President and CEO of Polo Ralph Lauren Europe, to acquire the company out of bankruptcy. Although unsuccessful in the attempt to purchase the entire company, the investor group ultimately retained a minority interest in the restructured company that was purchased by financier Marc H. Bell.
Siga Technologies, Inc.
In early 2003, Sandhu arranged financing for Siga Technologies, Inc., a startup biotechnology company developing novel products for the prevention and treatment of serious infectious diseases, with an emphasis on products for biological warfare defense. During the same year, MacAndrews & Forbes, the investment vehicle of billionaire Ronald Perelman made a substantial investment in Siga, building a 45% stake in the company. The company has received over $100 million dollars in grants from the government to develop various drugs.
Callisto Pharmaceuticals

In 2003, Sandhu helped structure and arrange the merger of Synergy Pharmaceuticals with Callisto Pharmaceuticals. The company has subsequently raised over $50 million dollars for the development of drugs to treat multiple myeloma, other cancers and osteolytic bone disease.
Arkados, Inc.
In 2004, Sandhu led an investor group in the merger and financing of, Inc., a publicly traded company with Miletos, Inc. The resulting company was called Arkados, Inc. The company designs, develops, markets, and sells technology and solutions enabling broadband communications over standard electricity lines ("the powerline network"), and has developed a re-configurable hardware and software platform for high-speed transmission of converged multimedia, voice, and data traffic over AC electrical wires. During the same year, Sandhu brokered a development agreement in which Arkados would create powerline carrier networking applications for Leviton Manufacturing Co. Leviton is the largest producer of electrical and electronic products in North America.
Integrated Biopharma Inc.
In 2004, Sandhu structured and led a group of investors in $8.5 million private placement in Integrated BioPharma, Inc. The company is engaged primarily in manufacturing, distributing, marketing and sales of vitamins, nutritional supplements and herbal products the manufacture and distribution of Paclitaxel, which is the primary chemotherapeutic agent in the treatment of breast cancer, Pharmaceutical technical services through its contract research organization; and the biotechnology business that uses its patented plant-based technology to produce vaccines and therapeutic antibodies.
U.S. Securities and Exchange Commission
On August 7, 2008, the Commission issued an Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 203(f) of the Investment Advisers Act (Order) against George J. Sandhu based on the entry of the injunction against him in SEC v. Universal Express, Inc., et al., Civil Action No. 1:04-cv-02322 (Nov. 26, 2007, USDC, SDNY). The Order finds that Sandhu, a resident of New York, was associated with an investment adviser, International Investment Group, LLC, prior to November 2001 and again after January 2003. The Order also finds that according to the Commission's complaint, during 2002, Sandhu wrote two letters to Universal Express, Inc. falsely representing that a mutual fund with which he was associated would invest $7,500,000 in the company's acquisitions, and provide an additional $50,000,000 in long-term financing. Contrary to these representations, the mutual fund had assets of approximately $4,000,000 to $5,000,000. Sandhu also sold shares of Universal Express for third-parties, when no registration statement was in effect. Sandhu was enjoined in the related civil case from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. .
Based on the above, the Order barred Sandhu from association with an investment adviser with the right to reapply in three years. Sandhu consented to the issuance of the Order without admitting or denying any of the findings in the Order, except with respect to the entry of the injunction in the related civil case, which he admitted.
Real Estate
Since 2005, Sandhu has focused more on advisory work for clients in real estate and early stage companies. In 2005, he advised clients participating in the purchase of 627 Greenwich Street, a 12 story, 107,000-square-foot loft building in Manhattan's West Village. In 2006, Sandhu's clients were among a group who purchased a property located at 250 Bowery. The property is to be converted into a hotel in the Lower East Side neighborhood of Manhattan.
Emilia Castillo
In 2006, Sandhu advised his clients on purchasing an equity stake in the parent company of Emilia Castillo, a Mexican based producer of table top wares and house furnishings whose clients include Neiman Marcus. Sandhu has taken an active role in the development and expansion of the company and currently sits on the board of directors.
< Prev   Next >