Family Offices in United States

Waterfall Asset Management is a global alternative investment manager specializing in complex and differentiated investments within the asset-backed finance markets. The firm's core focus areas include structured credit securities, whole loans, real assets, and related strategies. They operate across more than 60 sectors in both publicly traded and privately negotiated markets, offering solutions tailored to their clients' risk tolerances and liquidity needs through various fund structures.The firm was founded in 2005 by Jack Ross and Tom Capasse, who previously established Merrill Lynch's pioneering Asset-Backed Securities (ABS) Group in the 1980s. Their extensive experience in asset finance, including creating some of the earliest securitizations, laid the groundwork for Waterfall's expertise. This deep historical involvement in the ABS industry has positioned the senior team as experienced leaders in the structured credit space.Waterfall Asset Management manages a diverse portfolio and is notably the external manager for Ready Capital Corporation (NYSE: RC), a multi-strategy real estate finance company. The firm's strategies include a flagship high-yield asset-backed credit strategy, a small balance commercial loan strategy, a private equity strategy focused on lower middle-market financial services, and a commercial real estate equity strategy through its Atlas Fund. Recent investments include stakes in companies like Rithm Capital, Kilroy Realty, Global Net Lease, Iwoca Ltd, and partnerships with firms like Fundbox.The firm's senior team brings decades of industry experience and leverages an international network spanning North America, Europe, and Asia. Founders Jack Ross and Tom Capasse collectively possess over 60 years of proven experience in ABS/Loan credit analysis, trading, banking, and servicing. This expertise allows Waterfall Asset Management to source, analyze, and invest in a wide array of asset-backed and loan products, aiming to provide attractive risk/return profiles that are generally uncorrelated with traditional investment sectors.