Waterfall AM Launches Finance-Focused Private Equity Platform

Tom Burroughes

21 December 2017

SEC-registered alternatives investment house has hired Gene Weil and John Nelligan to launch and run a new financial services and specialty finance-focused private equity platform.

The platform will take the name of Waterfall Milestone, reflecting how Weil and Nelligan were co-founders of Milestone Advisors. For about five years, Weil was the co-head and Nelligan was a managing director of Houlihan Lokey's financial institutions group.

The offering aims to provide equity capital to accelerate growth of middle market companies n the financial services sector. Waterfall Milestone will target growth, special situation and financial technology-driven opportunities created by capital market, credit, technology innovation and regulatory shifts. The platform is being launched within Waterfall's existing structure.

Waterfall Asset Management concentrates on high yield asset backed security and loan investments, and was founded in 2005 by Tom Capasse and Jack Ross.