Founded in 2005, the firm utilizes a relative value approach for sourcing and investing in the private and public markets, across 60+ sectors of the asset-based finance arena. Waterfall Asset Management is a global alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity. This strategy is a key part of our vision to build on our differentiated expertise and deliver value for clients in asset classes where we are well-positioned, thanks to our analytical, structuring and trading abilities and our collaborative, inquisitive culture.” Tom Capasse, Managing Partner and Co-Founder of Waterfall Asset Management said: “Under Patti’s leadership, Waterfall’s commercial real estate platform has grown considerably, and the closing of the Atlas Fund marks another important milestone. We believe Atlas can benefit from dislocation across debt and equity, with Waterfall resources assisting in the sourcing of opportunities. We expect that the pressure from rising rates and a tightening credit environment will have a direct impact on commercial real estate, especially as it relates to near term maturities. Waterfall’s CRE equity strategy pursues a differentiated approach that builds on the Firm’s deep presence in the broader debt eco-system. Patti Unti, Managing Director and Head of Waterfall Asset Management’s Commercial Real Estate Equity Strategy said: “We are deeply appreciative of the support for Atlas from a wide range of global investors, including pensions, institutions, family offices and high net worth individuals.” Regarding the opportunity set for the strategy, Patti says, “We believe we are well-positioned to capitalize on ongoing dislocations in the market, which are primarily driven by the combination of rising rates, a tightening credit market, shifting demographics, consumer preferences and over-levered assets.” So far, Waterfall has deployed $172 million of the Fund’s capital across 18 assets. Waterfall initially launched its CRE equity strategy in 2017, led by Patti Unti and Zachary Liebmann, and has invested $499M across 33 assets. Atlas’s strategy builds on the Firm’s experience with investing in the CRE space through debt, bonds, and equity, and insights gained from managing nearly $4.8 billion of its AUM in the sector as of December 2022. The Fund will invest primarily in commercial real estate (CRE) equity as well as distressed loans and bonds. Waterfall Asset Management, a global alternative investment adviser, announced the final closing of its closed-end real estate fund, Waterfall Atlas Fund, which raised a total of $485 million in equity commitments, including through co-investment vehicles. The episode can be accessed here, as well as wherever you usually get your podcasts, including Apple Podcasts and Spotify (just search for ‘SCI In Conversation’).Waterfall Asset Management Closes Atlas Fund at $485M One of the articles explores how blockchain and digitisation are addressing securitisation inefficiencies another looks at the prospects for significant risk transfer activity in Central and Eastern Europe and the other investigates the impact that the introduction of alternative credit scores may have on the US RMBS and credit risk transfer markets. In a bonus feature marking International Women’s Day on 8 March, we also chat to Linklaters managing associate Ruhi Patil about what this year’s campaign theme - ‘embrace equity’ - means to her.Īdditionally, we highlight three SCI Premium Content articles that were published in January. In this episode of the SCI In Conversation podcast, Waterfall Asset Management partner Keerthi Raghavan discusses the headwinds and tailwinds currently facing the US ABS market. We discuss the hottest topics in securitisation today.
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