Waterfall Asset Management, which focuses on investing in high yield asset-backed securities (ABS), has opened up a London office in an attempt to bolster its operations in the European direct lending market.
The firm has appointed James Cuby and Henrik Malmer to lead the office. Both have experience working in structured credit and banking. They both join from Investec after spending ten years leading its credit investment business.
“We were particularly attracted to Waterfall’s diverse business within structured credit and confidence to explore new products in Europe owing to their exceptional understanding of risk,” Malmer said in a statement.
Both will be tasked with furthering Waterfall’s presence in the structured credit and direct lending business in the European market.
Waterfall, headquartered in New York, was established in 2005 by Tom Capasse and Jack Ross. The firm had $5.4 billion assets under management as of 31 December, according to the company’s website. The firm buys ABS and loan investments across multiple sectors globally.