TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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August 10, 2023
Source: Businesswire
Hires Coherence Team of industry veterans, led by Salvatore Naro, with 35+ years credit experience
August 09, 2023 01:00 PM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Corvid Peak Capital Management LLC (“Corvid Peak”), a subsidiary of Tiptree Inc. (NASDAQ: TIPT) (“Tiptree” or the “Company”) announced today that it has reached an agreement in principle for the Coherence Capital Management (“Coherence”) team of Lazard Asset Management to join Corvid Peak. Coherence manages a liquid long/short credit hedge fund strategy with approximately $150 million of assets under management, including the Coherence Long/Short Credit fund, which was designated fund of the year in 2023 by Hedgeweek/Private Equity Wire in its category.
Sal Naro, founder of Coherence, will join Corvid Peak and will continue to manage the fund along with the rest of the Coherence team. “We are very pleased to join forces with Corvid Peak and the Corvid Peak team,” stated Naro. “The investment opportunity in long-short credit is increasingly attractive right now and we expect it to remain so in the future. Having the opportunity to be a part of an investment organization that invests across the credit spectrum is very valuable to us.”
“Adding the capabilities of Coherence is part of our strategic plan to grow and enhance our investment platform across multiple strategies,” remarked Mark Black, Chief Investment Officer of Corvid Peak. “Sal brings over 35 years of experience managing credit risk, inclusive of an 11+ year track record managing the Coherence funds. We are excited to partner with his team, and to have the opportunity to expand their asset base and to develop additional credit strategies.”
Corvid Peak will be allocating a direct investment into the Coherence fund and all current employees of Coherence will become employees of Corvid Peak. The closing of the transaction is subject to limited partner consent and other closing conditions.
Corvid Peak, based in New York, is an SEC registered investment advisor with over $1 billion of assets under management.
Contacts
Corvid Peak Contact:
Brooke Parish
bparish@corvidpeak.com
August 09, 2023 01:00 PM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--Corvid Peak Capital Management LLC (“Corvid Peak”), a subsidiary of Tiptree Inc. (NASDAQ: TIPT) (“Tiptree” or the “Company”) announced today that it has reached an agreement in principle for the Coherence Capital Management (“Coherence”) team of Lazard Asset Management to join Corvid Peak. Coherence manages a liquid long/short credit hedge fund strategy with approximately $150 million of assets under management, including the Coherence Long/Short Credit fund, which was designated fund of the year in 2023 by Hedgeweek/Private Equity Wire in its category.
Sal Naro, founder of Coherence, will join Corvid Peak and will continue to manage the fund along with the rest of the Coherence team. “We are very pleased to join forces with Corvid Peak and the Corvid Peak team,” stated Naro. “The investment opportunity in long-short credit is increasingly attractive right now and we expect it to remain so in the future. Having the opportunity to be a part of an investment organization that invests across the credit spectrum is very valuable to us.”
“Adding the capabilities of Coherence is part of our strategic plan to grow and enhance our investment platform across multiple strategies,” remarked Mark Black, Chief Investment Officer of Corvid Peak. “Sal brings over 35 years of experience managing credit risk, inclusive of an 11+ year track record managing the Coherence funds. We are excited to partner with his team, and to have the opportunity to expand their asset base and to develop additional credit strategies.”
Corvid Peak will be allocating a direct investment into the Coherence fund and all current employees of Coherence will become employees of Corvid Peak. The closing of the transaction is subject to limited partner consent and other closing conditions.
Corvid Peak, based in New York, is an SEC registered investment advisor with over $1 billion of assets under management.
Contacts
Corvid Peak Contact:
Brooke Parish
bparish@corvidpeak.com
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