Waterfall Asset Management LLC

Waterfall Asset Management is an experienced leader in asset-backed finance, focusing on structured credit securities, whole loans, and related strategies. They source complex and differentiated investments in specialized corners of the asset-backed finance markets globally, covering over 60 sectors across both publicly traded and privately negotiated markets. The firm tailors solutions to meet clients’ risk tolerances and liquidity needs, offering evergreen and drawdown fund structures for commingled and single-investor preferences. Founded in 2005 by Jack Ross and Tom Capasse, who previously built Merrill Lynch’s ABS Group, Waterfall leverages the extensive experience of its senior team who were early participants in numerous asset finance sectors. Waterfall's approach is characterized by its diverse viewpoints and a solutions-oriented methodology. The firm's investment strategies span a wide range of asset classes, including private asset-backed credit, commercial real estate equity, and CUSIP dislocation funds. They have a long history of launching successful strategies, starting with their flagship high yield asset-backed credit strategy and expanding into areas like small balance commercial loans, private equity focused on lower middle-market financial services, and insurance asset management. With approximately 90% of their client base comprising institutional investors such as public and corporate pensions, endowments, foundations, sovereign wealth funds, insurance companies, and family offices, Waterfall has built a strong reputation and demonstrated consistent growth. The firm emphasizes structural protections in private asset-backed credit and capitalizes on opportunities in CRE debt, including CMBS and whole loan acquisitions. Their team includes partners, investment team leaders, and business leaders, strategically located in New York City, London, and Dublin, enabling them to maintain a global presence and capture investment opportunities across various geographies.

Structured credit securities, whole loans, asset-backed finance, commercial real estate equity, private equity (lower middle-market financial services), CUSIP dislocation funds, CMBS, insurance asset management

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