Ready Capital is externally managed by Waterfall Asset Management, an SEC-registered specialist credit advisor focused on high-yield asset backed securities (ABS) and loan investments.
Waterfall was founded in New York City in 2005 by Tom Capasse and Jack Ross, both early leaders of the ABS industry with a collective 60+ years of proven ABS/Loan trading, banking and servicing experience. Tom Capasse and Jack 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 invests.
Waterfall utilizes a relative value approach to investing in structured credit and loan products. Leveraging the extensive experience of its founding partners and talented portfolio managers, the firm sources, analyzes, and purchases ABS and loan investments across multiple sectors globally in pursuit of an attractive risk/return profile. This multi-sector specialization in both ABS and loans enables Waterfall to seek to provide its clients with attractive, competitive returns that are generally uncorrelated to most traditional investment sectors.