AAMC Enters into Forward Sale Contracts to Sell Alternative Credit Products
January 31 2023 - 10:03AM
Business Wire
Altisource Asset Management Corporation (“AAMC” or the
“Company”) (NYSE: AAMC) announces that it has entered into forward
contracts to sell alternative credit products to two of the US’s
largest institutional counterparties that manage insurance and
credit money assets. The organizations have over $50 billion and
$15 billion in assets under management.
Establishing partnerships with blue chip asset managers affirms
AAMC’s distinctive loan origination template: AAMC’s strategy
leverages growing relationships with large multi-asset managers to
originate loans based on the specific loan criteria of individual
asset managers, as opposed to a one-size-fits-all
securitization-based model.
“These counterparties would not have entered into this
arrangement if they did not value our business model,” said Jason
Kopcak, CEO of AAMC. “Gaining the trust and business of the largest
fixed income counterparties in the Private Credit/Alternative Asset
space within our first few months of alternative lending operations
is a testament to the deep experience of our team.”
Kopcak reports that AAMC is in process with five additional
counterparties regarding similar forward contracts.
“This is exciting for AAMC,” said Kopcak, “these partnerships
underscore the value of our model, suggest that the credit market
is healing and demonstrate renewed interest in this asset
class.”
About AAMC
AAMC is a private credit provider that originates alternative
assets to provide liquidity and capital to underserved markets. We
also continue to assess opportunities that could potentially be of
long-term benefit to shareholders. Additional information is
available at www.altisourceamc.com.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, regarding management’s beliefs, estimates, projections,
anticipations, and assumptions. These statements may be identified
by words such as “anticipate,” “intend,” “expect,” “may,” “could,”
“should,” “would,” “plan,” “estimate,” “target,” “seek,” “believe”
and other expressions or words of similar meaning. We caution that
forward-looking statements are qualified by the existence of
certain risks and uncertainties that could cause actual results and
events to differ materially from what is contemplated by the
forward-looking statements.
The statements made in this press release are current as of the
date of this press release only. The Company undertakes no
obligation to publicly update or revise any forward-looking
statements or any other information contained herein, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230131005367/en/
Investor Relations T: +1-704-275-9113 E: IR@AltisourceAMC.com
Twitter: @altisourceamc
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