Industry veteran Tim
Nabors joined firm earlier this year and will lead new
initiative.
NEW
YORK, Oct. 24, 2023 /PRNewswire/ -- Waterfall
Asset Management, LLC ("Waterfall" or the "Firm"), a global
alternative investment adviser, announced the expansion of its
insurance asset management business. Waterfall, which currently
manages capital on behalf of insurance clients in asset backed
credit and mortgage loan strategies, is forming a dedicated team to
provide tailored investment solutions to insurers, with a focus on
the US residential whole loan market, in which it has been an
active investor since 2007.
This expansion will be overseen by Leo
Wong, Partner at Waterfall, who manages the $11 billion residential whole loan asset
strategy, along with recent hire Tim
Nabors, Managing Director, who joined the firm earlier this
year. Tim brings to the Firm over 25 years of experience in
managing investments in the mortgage securities and whole loan
spaces for US-based insurance companies. Waterfall's insurance
asset management business will build on its track record in liquid
and private asset-based lending and seek to capitalize on its focus
on deep loan level analysis, conservative credit underwriting,
proprietary technical servicing models and investing
infrastructure, and its highly skilled capital markets team.
Leo Wong said, "Insurance
partners have always been a critical and valued part of Waterfall's
investor base and we are proud of our ongoing commitment to
delivering capital-efficient and tailored solutions to these
sophisticated clients. Today's unique market environment
offers especially appealing opportunities for insurers in the
residential credit space given the attractive long-term yields on
offer and the relatively low risk and volatility that can
potentially be achieved through thoughtfully structured
portfolios."
Tom Capasse, Managing Partner and
Co-Founder of Waterfall, added, "We are confident that with our
team's decades of experience in the space, Leo and Tim's expertise
and Waterfall's underwriting, structuring and data and analytics
capabilities, we are well positioned to partner with leading
insurers [around the world] to seize this opportunity. "
Tim Nabors Biography
Tim Nabors recently joined
Waterfall as a Managing Director of Portfolio Management with a
focus on whole loan investments targeting institutional investors.
Mr. Nabors has over 25 years of buy side and investment banking
experience. During this time, Mr. Nabors has been primarily
focused on identifying and implementing private asset-based
investments strategies for US based insurance companies and has
purchased and structured over $25
billion in mortgage related portfolios. Most recently
Mr. Nabors was a Portfolio Manager at Pretium Partners where he
focused on institutional whole loan mortgage Separately Managed
Accounts (SMAs). Prior to Pretium, he held senior investment
roles at Nuveen and New York Life where he managed structured and
whole loan mortgage portfolios.
About Waterfall Asset Management
Waterfall Asset Management is a global alternative investment
manager focused on specialty finance opportunities within
asset-backed credit, whole loans, real assets, and related
strategies. 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.
Through this multi-sector specialization, Waterfall seeks to
provide its clients a compelling risk/return profile which is
generally uncorrelated to most traditional investment
opportunities. Waterfall is also the external manager to Ready
Capital Corporation (NYSE: RC), a multi-strategy real estate
finance company and small business lender. Waterfall is
headquartered in New York City,
with additional offices in London,
Dublin and Hong Kong. As of July
1, 2023, Waterfall manages approximately $12.5 billion in assets under management. To
learn more, please visit www.waterfallam.com.
Media Contact
Prosek
Partners
Josh Clarkson / Devin Shorey
pro-waterfallpr@prosek.com
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SOURCE Waterfall Asset Management