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 were early leaders of the ABS industry, and who together have over 60 years of proven ABS/Loan credit analysis, trading, banking and servicing 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 invests. Waterfall has approximately $9.7 billion* in assets under management. Waterfall utilizes a relative value approach to investing in structured credit and loan products.
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 invests. Waterfall has approximately $9.7 billion* in assets under management. Waterfall utilizes a relative value approach to investing in structured credit and loan products.
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Tom Capasse is a managing partner and co-founder of Waterfall Asset Management. Mr. Capasse has over 30 years of structured credit experience globally, having founded, with Jack Ross, Merrill Lynch's industry-leading ABS Group in the 1980s where they completed many first-time ABS issues and purchased non-performing loans from the Resolution Trust Corporation.
Despite the recovery in the multi-trillion dollar global Asset Backed Securities (ABS) market since the depths of the financial crisis, hundreds of billions of dollars of legacy distressed ABS remain outstanding. Waterfall is strategically positioned to leverage the expertise and experience of its founding principals - Tom Capasse and Jack Ross - who established Merrill Lynch's ABS Group in the 1980s and created many of the first securitizations.
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Javier Elizarraras
Jan 19, 2020
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