LOS ANGELES, Oct. 12, 2017 /PRNewswire/ -- Genesis
Capital, LLC ("Genesis" or "the Company"), a specialty commercial
lending platform providing financing solutions to professional
residential real estate developers, today announced that it has
signed a definitive agreement with an affiliate of Goldman Sachs
("Goldman Sachs") to support the Company in its next phase of
growth. Genesis is being acquired from funds managed by Oaktree
Capital Management L.P. ("Oaktree") and management. Terms of the
transaction were not disclosed.
The transaction will enable Genesis to continue to grow its
platform, with a focus on achieving additional scale in its current
market segments and introducing new products and financing
solutions to a broader and national customer base. The
Company's strategy is to be the debt financing partner of choice to
the nation's top professional residential developers offering
responsive, flexible and reliable service that empowers clients to
seize upon opportunities and grow their businesses
successfully.
"Our new partnership is a validation of the platform we have
worked tirelessly to build and the strong relationships we have
developed with a loyal customer base," said Robert Wasmund, Co-Chief Executive Officer of
Genesis Capital. "We look forward to working with the Goldman Sachs
team in our next stage of development."
Rayman Mathoda, Co-Chief
Executive Officer of Genesis, stated, "Over the last several years,
we have grown significantly and solidified our position in the
market. Through our robust and differentiated platform, we are
well-positioned to extend financing solutions so that our customers
can capitalize on the market's opportunities. This transaction will
support that strategy by bringing further investment into the
Company and allow our customers to benefit from an expanded suite
of offerings designed to meet their growing needs."
"We are delighted to partner with the Genesis management team
and help them scale in a large and attractive segment of the real
estate lending market," said Anthony
Arnold, Managing Director at Goldman Sachs. "We look forward
to building on Genesis' industry-leading platform and positioning
the Company for continued innovation and success."
Commenting on today's announcement, Brian Laibow, Managing Director of Oaktree,
said, "We have enjoyed our relationship with Genesis over the past
four years and are delighted to have overseen their rapid
development, including loan originations surpassing $2.5 billion. The management team has built a
truly differentiated platform that should afford them continued
success. We wish Genesis well under their new stewardship."
Genesis was advised by Wells Fargo Securities. Legal
counsel was provided to Genesis and Oaktree by Munger, Tolles &
Olson. Goldman Sachs was advised by Goldman Sachs & Co.
LLC and legal counsel was provided by Davis
Polk & Wardwell and Mayer Brown LLP.
About Genesis Capital
Genesis Capital is a high growth specialty commercial lending
platform providing financing for qualified and experienced real
estate developers focused on the residential real estate market.
Genesis Capital is headquartered in Los
Angeles, CA. Visit Genesis Capital at
www.genesiscapital.com.
About The Goldman Sachs Group, Inc.
The Goldman Sachs Group, Inc. is a leading global investment
banking, securities and investment management firm that provides a
wide range of financial services to a substantial and diversified
client base that includes corporations, financial institutions,
governments and individuals. Founded in 1869, the firm is
headquartered in New York and
maintains offices in all major financial centers around the
world.
About Oaktree
Oaktree is a leader among global investment managers
specializing in alternative investments, with $99 billion in assets under management as of
June 30, 2017. The firm emphasizes an
opportunistic, value-oriented and risk-controlled approach to
investments in distressed debt, corporate debt (including high
yield debt and senior loans), control investing, convertible
securities, real estate and listed equities. Headquartered in
Los Angeles, the firm has over 900
employees and offices in 18 cities worldwide. For additional
information, please visit Oaktree's website at
www.oaktreecapital.com
Media Contact for Genesis Capital, LLC
Brian
Schaffer
212.279.3115 x229
bschaffer@prosek.com
View original
content:http://www.prnewswire.com/news-releases/genesis-capital-signs-agreement-with-goldman-sachs-to-support-next-phase-of-growth-300535811.html
SOURCE Genesis Capital, LLC