Waterfall Asset Management Corp
Waterfall Asset Management is an SEC-registered specialist credit advisor focused on High Yield Asset Backed Security (ABS) and loan investments. Waterfall was founded in 2005 by Tom Capasse and Jack Ross, two individuals who were early leaders of the ABS industry, and who have 50+ combined years of proven ABS/Loan 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 $3.1 billion* in assets under management. 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 an effort to seek 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.
Investment Type
| Performing/Non-performing loans |
Investment Style
| Opportunistic |
Thomas Capasse
Tom Capasse is a principal and co-founder of Waterfall Asset Management. Mr. Capasse has 32 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. Mr. Capasse subsequently managed structured credit Banking & Trading groups at Greenwich Capital, Nomura Securities, and Macquarie Securities. Mr. Capasse began his career as a Fixed Income Analyst at Dean Witter and Bank of Boston and received a B.A. from Bowdoin College in 1979.
Jack Ross
Jack Ross is a principal and co-founder of Waterfall Asset Management. Mr. Ross has 29 years of ABS and structured credit experience, having completed some of the earliest ABS issues at Drexel Burnham Lambert and co-founded Merrill Lynch’s ABS Group with Tom Capasse. Mr. Ross subsequently managed International Real Estate Debt at Merrill Lynch and founded Licent Capital, a specialty broker/dealer for intellectual property securitization. Mr. Ross began his career as a CPA with Laventhol & Horvath and received a B.S. from the University of Buffalo in 1978 and his MBA from The Wharton School at the University of Pennsylvania in 1984.
Rick Herbst
- (212) 257-4607
- rherbst@waterfallam.com
Daniel Ostersehlte
- (212) 257-4610
- danielo@waterfallam.com
Brian Breakstone
Kenneth Nick
- +1 212 257 4606
- knick@waterfallam.com
Brian Rebello
- +1 212 257 4609
- brebello@waterfallam.com
Bruce Rodio
- +1 212 257 4675
- brodio@waterfallam.com
Russ Andrews
- +1 212 257 4612
- randrews@waterfallam.com
Derek Conn
Eliran Sharon
- +1 212 257 4614
- seliran@waterfallam.com