Jefferies Group Inc., the New York- based investment bank, the Government of Singapore Investment Corp. and LoanCore LLC, formed a joint venture to originate commercial real-estate debt in the U.S.
The company, to be known as Jefferies LoanCore LLC, can draw on $600 million in capital, the firm said today in a statement. Mark Finerman, the founder of LoanCore LLC, will lead the venture, according to the statement.
Finerman was raising $3 billion in 2008 for a fund to make senior property loans, people familiar with the matter said in October of that year. He had raised money from Singapore’s GIC, a sovereign wealth fund for the island nation, people familiar with the matter said at the time.
“As our industry recovers from the disruption of the recent financial crisis, we expect Jefferies LoanCore to be a leader in providing creative capital solutions,” Finerman said in the statement.
Finerman left RBS Greenwich Capital, a unit of Royal Bank of Scotland Group Plc, as head of commercial real-estate lending in May 2008.
Before joining RBS Greenwich Capital in 2002, Finerman oversaw commercial mortgage bonds at Credit Suisse First Boston. He worked at CSFB from 1996 to 2001, leaving briefly in 2001 for Barclays Capital with 39 other bond executives before being lured back to the firm.
Source: www.bloomberg.com
The company, to be known as Jefferies LoanCore LLC, can draw on $600 million in capital, the firm said today in a statement. Mark Finerman, the founder of LoanCore LLC, will lead the venture, according to the statement.
Finerman was raising $3 billion in 2008 for a fund to make senior property loans, people familiar with the matter said in October of that year. He had raised money from Singapore’s GIC, a sovereign wealth fund for the island nation, people familiar with the matter said at the time.
“As our industry recovers from the disruption of the recent financial crisis, we expect Jefferies LoanCore to be a leader in providing creative capital solutions,” Finerman said in the statement.
Finerman left RBS Greenwich Capital, a unit of Royal Bank of Scotland Group Plc, as head of commercial real-estate lending in May 2008.
Before joining RBS Greenwich Capital in 2002, Finerman oversaw commercial mortgage bonds at Credit Suisse First Boston. He worked at CSFB from 1996 to 2001, leaving briefly in 2001 for Barclays Capital with 39 other bond executives before being lured back to the firm.
Source: www.bloomberg.com
No comments:
Post a Comment