Latest news with #BrianTortorella
Business Wire
23-07-2025
- Business
- Business Wire
Fidelis Investors Closes Second Rated RTL Securitization, FID 2025-RTL2, Illustrating Continued Demand Amid Tariff Volatility
NEW YORK--(BUSINESS WIRE)--Fidelis Investors, a leading alternative asset manager with over $1 billion in assets under management, today announced the closing of its second rated Residential Transition Loan (RTL) securitization, FID 2025-RTL2. The transaction marks another important step in Fidelis' mission to bring scale, structure, and transparency to the RTL market, while broadening institutional investor access to housing rehabilitation financing. It also demonstrates continued demand amid recent market volatility stemming from tariffs. Rated by Morningstar DBRS, FID 2025-RTL2 is a two-year revolving, $144.525mm securitization backed by 308 RTLs across 24 different lenders, led by Unitas Funding, LLC, a wholly owned subsidiary of Fidelis. Additional eligible RTLs may be added to the portfolio in future transfer periods, subject to the transaction's eligibility criteria. 'This second RTL securitization continues our mission to institutionalize the asset class while creating investor access to an underserved but essential segment of the housing market,' said Brian Tortorella, Managing Partner at Fidelis Investors. 'With a seasoned and standardized platform, Fidelis is building repeatable capital markets solutions that connect institutional demand to America's housing supply challenge.' 'Jefferies commends Fidelis' ability to drive best in class securitization pricing with a well-diversified orderbook,' said Michael Wade, Co-Head of Securitized Markets Group, Capital Markets at Jefferies. 'We look forward to continuing to support Fidelis' mission as they become a programmatic securitization issuer and mainstay in the capital markets ecosystem.' FID 2025-RTL2 follows the firm's inaugural securitization in February 2025 and was oversubscribed across all tranches, with both repeat participants and new investors joining the book. This strong demand reflects growing familiarity with RTLs as an asset class and confidence in the Fidelis platform. 'The market response to this transaction validates our approach and demonstrates that more investors are becoming comfortable with and excited about this asset class,' said Michael Tessitore, Managing Partner at Fidelis Investors. 'We're proud to bring another high-quality securitization to the market that serves both investors and communities.' The firm's second RTL securitization comes after a brief market slowdown earlier this year due to tariff-related disruptions that temporarily paused issuance across the securitization market. Activity has since normalized, and current yields are largely in line with pre-tariff levels. Fidelis' ability to execute another securitization so soon after its first reflects its long-term vision to become a programmatic issuer, offering investors repeatable access to this emerging asset class. Christopher Schmidt, Managing Director at Jefferies, agreed. 'We are pleased to be part of the ongoing growth of the Fidelis enterprise, as they continue to separate themselves as a premier leader in the RTL securitization, origination and asset management space,' he said. 'Whether held on the balance sheet or brought to market, we've been committed to the RTL space since 2013,' added Tortorella. 'Rated securitizations are a natural evolution for us, opening new investor channels while supporting liquidity and competitive financing terms for housing rehabilitation loans.' Jefferies served as sole lead manager and bookrunner. About Fidelis Investors Founded in 2020 and headquartered in Cranford, New Jersey, Fidelis Investors is an alternative asset manager serving institutional investors with strategies across mortgage debt, structured finance, asset-based lending, and real estate. Fidelis has invested approximately $4.5 billion through 16 Mortgage & Real Estate Debt Funds and continues to lead efforts to modernize access to housing-related credit with transparent, scalable solutions. About Jefferies Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, and wealth and asset management services. With more than 40 offices around the world, Jefferies offers insights and expertise to investors, companies, and governments.
Yahoo
21-02-2025
- Business
- Yahoo
Fidelis Investors Launches Inaugural Rated RTL Securitization
New offering provides institutional investors a transparent, standardized avenue to finance housing rehabilitation, as U.S. housing shortage continues. NEW YORK, February 21, 2025--(BUSINESS WIRE)--Fidelis Investors, a leading alternative asset manager with more than $1 billion in assets under management, announced today the closing of its first-ever rated residential transition loan (RTL) securitization, FID 2025 RTL1. This inaugural transaction provides institutional investors critical access to housing rehabilitation financing and underscores the firm's leadership in the maturation of the RTL market. Rated by Morningstar DBRS, FID 2025 RTL1 includes 435 loans – approximately $150 million in current principal balance – that finance the rehabilitation of 517 housing units, offering institutional investors a transparent, standardized avenue to support housing rehabilitation projects. This securitization reflects Fidelis' focus on addressing the U.S. housing supply deficit and marks the culmination of the firm's longstanding efforts in establishing a secondary market for RTL loans – supporting the growth of the market from a fragmented niche to an institutionalized asset class. "This securitization is the next evolution of our forward-thinking approach to the RTL market," said Brian Tortorella, Managing Partner of Fidelis Investors. "We've been working to build this market since 2013, creating liquidity through loan purchases and warehouse lines and playing an integral role in establishing the first secondary market for RTL loans. As this inaugural transaction closes today, the Fidelis team extends our gratitude to the investors and partners who have supported our work and our platform for more than a decade." Fidelis was represented in this novel transaction by Mayer Brown LLP, a leading international law firm in the RTL space. Jefferies served as lead manager and bookrunner. "Jefferies is very proud to assist Fidelis Investors on their inaugural RTL securitization. We are pleased to support the company through this significant milestone of their corporate history with their entrance into the rated public capital markets," said Christopher Schmidt, Managing Director at Jefferies. "We look forward to working together on many future successful transactions in the coming months and years ahead." The securitization is structured to address the growing demand among institutional investors for high-quality, fixed-income investment opportunities, while addressing the U.S.'s aging housing stock and limited inventory. Rated RTL securitizations provide a means to expand investor access to this critical sector when the U.S. faces a housing deficit of between 2-5 million units — bringing transparency and scalability to an asset class vital to housing rehabilitation and supply shortage. "As the RTL market matures, Fidelis remains committed to innovation – connecting institutional capital to housing solutions with enhanced transparency, liquidity, and standardization," said Michael Tessitore, Managing Partner of Fidelis Investors. "This rated securitization is the culmination of our work in the RTL sector and reflects our readiness as a firm to lead in its next growth phase." Since the Fidelis management team entered the RTL market more than a decade ago while at Five Mile Capital Partners, they have invested $4.5 billion in housing and structured finance solutions, providing much-needed liquidity to the housing market. By partnering with local lenders, Fidelis has played a key role in building a secondary market where none existed, helping create a framework for housing rehabilitation financing. This transaction builds on that legacy, bringing institutional capital to a critical segment of the housing market while continuing to drive the industry forward. About Fidelis Investors Founded in 2020, Fidelis Investors is an alternative asset manager with more than $1 billion in assets under management across seven investment vehicles. Backed by strong governance and transparent practices, the firm specializes in mortgage debt products, structured finance, asset-based lending, and real estate, having invested approximately $4.5 billion in 16 Mortgage & Real Estate Debt Funds. Fidelis is committed to realizing long-term growth alongside its investors, which include highly respected endowments, foundations, insurance companies, and hedge funds. About Jefferies Jefferies is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research and wealth and asset management services. With more than 49 offices in 23 countries around the world, we offer insights and expertise to investors, companies and governments. View source version on Contacts Jeremy Milnerjmilner@
