Waterfall Asset Management, LLC is an SEC-registered institutional asset manager focused on structured credit (asset-backed securities and loans) and private equity investments.
Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who helped establish the ABS industry, and who share 60+ combined years of proven ABS/Loan trading, banking and servicing leadership experience.
Capasse and Ross started the ABS Group at Merrill Lynch in the 1980s and conducted the first ABS issuances for many of the more than 40 ABS sectors in which Waterfall currently invests, including Small Balance Commercial Loans.
With $8.7 billion in assets under management (estimated as of 11/1/2019), Waterfall is noted for its relative value approach to investment.
Leveraging the extensive experience of its founding partners and expert portfolio managers, the firm sources, analyzes, and purchases non-traditional investments in an effort to seek an attractive risk/return profile.
By focusing on specialized "off the run" investments, Waterfall seeks to provide its clients with attractive, competitive returns that are uncorrelated to most traditional investment sectors. Waterfall Asset Management's headquarter offices are located in New York City.
Jack Ross, Waterfall Asset Management co-founder, discusses with P&I’s Christine Williamson at the SALT Conference what he calls “off the run” asset backed securities