About us

Our investment strategies cover a broad asset spectrum, including: whole mortgage loans, subordinated debt instruments, securitized mortgage products such as CMBS, CLOs and structured notes and CMBX index derivatives.

We apply deep fundamental research, comprehensive risk management, sophisticated structuring and active monitoring post-investment across a broad spectrum of property types.  We deem such activities to be keystone to our identifying compelling opportunities in our endeavor to generate maximum absolute and risk-adjusted returns with downside protection.

Investments are made drawing on a culture of disciplined risk management – challenging the status quo and thinking differently while driving for excellence.

The way we challenge the status quo is by leveraging our cross-sector expertise and work harder to lead market opportunity, reflecting our daily information flow across both the tradable and private commercial mortgage loan marketplace.  To us, doing so, is central to benefitting our investment partners who entrust us to realize alpha from minimized risk over both the short- and long term.  We do so simply and in a user friendly manner to outperform their goals and facilitate portfolio return planning.
 

Long liquid rated and unrated registered form credit
Long liquid credit strategies pursue an uncorrelated, absolute return focused largely on low-investment grade credit. Our investment approach combines deep fundamental research with sophisticated structuring and dynamic portfolio management. This credit strategy is broadly diversified with views expressed through a combination of capital structure arbitrage and relative value pair investments, designed to produce predictable, low volatility returns with the potential to capture medium to long term appreciation.

Long-only mortgage related debt
The Long-only strategies broadly encompass the active management of customized individual mortgage solutions, levered loans, subordinated debt, mezzanine and selected high yield risk-retention bonds. We seek to generate outperformance by focusing on deep fundamental credit analysis, careful consideration of relative value and comprehensive risk management. PropCap has excellent relationships with key leaders on both the sell-side and buy-side which result in numerous competitive advantages. Additionally, our cross-capital structure analytical approach and co-existence of this strategy with actively managed commercial property debt securities strategies leads to systematic, repeatable alpha-generation.

Separately managed accounts
Recognizing that some investors have unique specifications, PropCap also offers tailored strategies which may combine one or more of our principal strategies to meet the individualized investment and return objectives of clients. Tailored strategies include direct leveraged lending across senior and subordinated debt, long-short liquid credit, long-only liquid credit or combinations thereof.