Sector developments and company hires

Nuveen has announced the close of its inaugural CLO equity fund with over US$375m in committed capital. The Nuveen CLO Issuance Fund was supported by global public and private pension plans, family offices, as well as insurance companies, and will provide the opportunity to invest alongside Nuveen’s parent company, TIAA. The firm hopes the fund will offer exposure to the controlling equity interests of its several newly issued CLOs, CLO warehouses, and holdings in legacy Nuveen CLO debt and equity tranches – by way of a private placement, commingled fund structure.

In other news…

EMEA

Pemberton has appointed Thomas Doyle to lead its new NAV financing strategy. The announcement follows Pemberton’s recent launch of its new risk sharing and CLO strategies, as the firm works to broaden its offering to both borrowers and investors. Doyle will be responsible for the new strategy, as it works to offer investors more exposure to a new, and rapidly expanding area of the market. He joins from 17Capital where he served as partner and member of its investment team with over 25 years of industry experience in offering innovative investment opportunities to investors.

North America

CoreVest Finance has named Michael Peerson cio, based in Charlotte, North Carolina. He was previously a director and non-agency RMBS trader at Wells Fargo, having joined the firm as a DCM analyst in June 2007.

SitusAMC continues to bring innovative technology to its business as it announces the launch of its new Warehouse Administration Services platform to help support existing operations. The new turnkey approach is designed to support both new and existing mortgage and warehouse lenders by removing the pressures of establishing, managing, and scaling new warehouse facilities, by redirecting responsibilities to the firm’s team of experts. The firm hopes the warehouse administration services will help not only to reduce costs, but also enhance efficiency as the move builds upon SitusAMC’s ambitions to be a technology leader in the warehouse financing market. At present, the firm supports more than US$2trn in warehouse funds, equal to 70% of the warehouse market, with its ProMerit and WLS warehouse lending technologies. SitusAMC’s Warehouse Administration Services hopes to increase profitability by reducing lenders’ costs by up to 30%, and will be supported by its existing team of expert professionals.

Vida Capital has announced the hire of new senior md and head of structured credit, Peter Polanskyj. With experience across both structured credit and insurance, the firm hopes Polanskyj will be able to enhance the portfolio company’s offerings. Polanskyj will report to president and ceo, Blair Wallace, and will work alongside the team to develop new strategies for new and existing investors. With more than US$3.9bn in assets under management, Vida Capital stands as one of the largest vertically integrated platforms within the life settlements space. He joins the Redbird Capital Partners and Reverence Capital Partners subsidiary, Vida Capital, from Sculptor Capital Management, where he served as md and head of US CLO management.