Organizations

6 financial institutions and investment firms whose profits drive detention expansion — warehouse sellers, private equity, and the banks behind them.

Blue Owl Capital — Private Equity Firm Profiting from ICE Warehouse Purchases

Blue Owl Capital ($307.5B AUM) sold distressed warehouses to DHS at multiples of market value. Stock crashed 68% amid $5.4B in redemption requests; DHS sales were a financial lifeline.

Private equity · New York, NY · OWL (NYSE)

Carlyle Group — Oakwood GA Warehouse Seller, 22 Admin Officials Hold Investments

Carlyle Group sold the Oakwood, GA warehouse to DHS for $68.2M. 22 Trump officials hold Carlyle investments, including former Carlyle employee Todd Newnam now at Treasury.

Private equity · Washington, DC

Goldman Sachs — Double Exposure in ICE Warehouse Profiteering

Goldman Sachs has double ICE exposure: direct seller of Roxbury NJ ($129.3M, 137% markup) and lender on Williamsport MD ($352.7M refi). Combined Goldman-connected proceeds: $231.7M.

Investment bank · New York, NY

PNK Group — Russia-Founded Industrial Developer, Social Circle GA Seller, Sberbank Partner

Russia-founded industrial developer that sold Social Circle, GA warehouse to DHS for $128.6M after buying it for $29.4M. Founder Sharkov has Sberbank, Roscongress, and ICIJ offshore ties.

Real estate developer · New York, NY (founded Saint Petersburg, Russia, 2004)

Project Salt Box — ICE Warehouse Overpayment Research and Tracking

Activist research org documenting ICE warehouse overpayments through property records and lien filings. Their data shows markups ranging from 137% to ~1000% across confirmed purchases.

Research activist

Rockefeller Group (Mitsubishi Estate) — Surprise AZ Warehouse Seller

Mitsubishi Estate subsidiary that sold the Surprise, AZ warehouse to DHS for $70M vs ~$12M cost basis (483% markup). GardaWorld won the $313.4M conversion contract despite no detention experience.

Real estate developer · New York, NY