Hildene

Hildene Capital Closes $318.4 Million Non-QM Loan Securitization

Retrieved on: 
Thursday, February 1, 2024

The loan pool features a weighted average FICO of 738 and 70.6 percent loan-to-value, with a majority of the loans being owner-occupied.

Key Points: 
  • The loan pool features a weighted average FICO of 738 and 70.6 percent loan-to-value, with a majority of the loans being owner-occupied.
  • Fitch rated the senior investment grade bonds AAA-BBB and Kroll rated both the IG and Non-IG bonds down to BB.
  • “The close of our latest CROSS securitization underscores the opportunity we continue to see in the non-QM market,” said Justin Gregory, Portfolio Manager at Hildene.
  • CROSS 2024-H1 is Hildene’s first non-QM securitization of the year, following a $332.8 million securitization of CROSS 2023-H2 in November 2023 and a $303.4 million securitization of CROSS 2023-H1 in July 2023.

Hildene Capital Completes $333 Million Non-QM Loan Securitization

Retrieved on: 
Thursday, November 9, 2023

CROSS 2023-H2 offered five tranches with four senior bonds paying principal pro rata and a sequential mezz bond.

Key Points: 
  • CROSS 2023-H2 offered five tranches with four senior bonds paying principal pro rata and a sequential mezz bond.
  • “We are pleased to scale our relationship with CrossCountry Mortgage through the close of CROSS 2023-H2,” said Justin Gregory, Portfolio Manager at Hildene.
  • The relationship provides Hildene with exclusive access to scalable, high credit quality non-QM loans, which Hildene and CCM collaborate to securitize.
  • CROSS 2023-H2 is Hildene’s largest securitization of non-QM loans, following a $232.9 million securitization of CROSS 2023-H1 in July 2023.

SILAC Insurance Company and Hildene Capital Management Announce Strategic Alliance

Retrieved on: 
Monday, January 9, 2023

SILAC Insurance Company (“SILAC” or the “Company”), a leading U.S. annuity provider, and Hildene Capital Management, LLC (together with its affiliates and clients, “Hildene”), a credit-focused asset manager with approximately $12 billion of assets under management, today announced that they have entered into a long-term strategic alliance.

Key Points: 
  • SILAC Insurance Company (“SILAC” or the “Company”), a leading U.S. annuity provider, and Hildene Capital Management, LLC (together with its affiliates and clients, “Hildene”), a credit-focused asset manager with approximately $12 billion of assets under management, today announced that they have entered into a long-term strategic alliance.
  • View the full release here: https://www.businesswire.com/news/home/20230109005283/en/
    As part of the alliance, Hildene has acquired a strategic minority ownership interest in the Company.
  • Stephen C. Hilbert, Chairman and Chief Executive Officer of SILAC, said, “I couldn’t be more pleased to form this strategic alliance with Hildene, a well-recognized credit investor with a disciplined approach to portfolio management.
  • Our alliance with SILAC underscores the confidence we have in the Company’s ongoing success and Hildene’s ability to source attractive investment opportunities for longer-term capital.

 Hildene Capital Forms Strategic Relationship with CrossCountry Mortgage for Non-QM Investments  

Retrieved on: 
Thursday, December 1, 2022

Hildene Capital Management, LLC (Hildene), a $12 billion credit-focused asset manager, today announced that it has entered into a strategic relationship with CrossCountry Mortgage (CCM), one of the largest retail residential mortgage originators in the U.S., and CrossCountry Capital, LLC (CCC), a company focused on housing-related principal investments.

Key Points: 
  • Hildene Capital Management, LLC (Hildene), a $12 billion credit-focused asset manager, today announced that it has entered into a strategic relationship with CrossCountry Mortgage (CCM), one of the largest retail residential mortgage originators in the U.S., and CrossCountry Capital, LLC (CCC), a company focused on housing-related principal investments.
  • The relationship between Hildene and CrossCountry provides Hildene direct access to scalable, high credit quality Non-QM loans, and the parties the opportunity to work together to seek to securitize Non-QM loans on a programmatic basis.
  • We look forward to working with Brett, Dushyant, and the Hildene team to source and securitize attractive residential mortgage investments together in the years ahead.
  • CrossCountry Mortgage is one of the nations largest retail mortgage lenders, with more than 8,000 employees operating over 700 branches across all 50 states.

Hildene Capital Management Announces Strategic Relationship with Leucadia Asset Management

Retrieved on: 
Tuesday, March 1, 2022

Hildene Capital Management, LLC (Hildene), an asset management firm focused on distressed and event-driven opportunities within credit, today announced that it has entered into a strategic relationship with Leucadia Asset Management (LAM), a division of Jefferies Financial Group Inc. (NYSE: JEF).

Key Points: 
  • Hildene Capital Management, LLC (Hildene), an asset management firm focused on distressed and event-driven opportunities within credit, today announced that it has entered into a strategic relationship with Leucadia Asset Management (LAM), a division of Jefferies Financial Group Inc. (NYSE: JEF).
  • We are excited about our new strategic relationship with Leucadia Asset Management, said Brett Jefferson, Founder and Co-Chief Investment Officer of Hildene.
  • Founded in 2008, Hildene Capital Management, LLC is a diversified institutional asset manager specializing in asset-based and credit opportunities.
  • Leucadia Asset Management offers institutional clients an innovative offering range of investment strategies through its affiliated asset managers.

Button Finance Raises $2 Million Seed Round

Retrieved on: 
Monday, October 25, 2021

Button Finance, Inc. , a fintech mortgage lender focused on home equity, announced today that it has closed a $2 million seed raise.

Key Points: 
  • Button Finance, Inc. , a fintech mortgage lender focused on home equity, announced today that it has closed a $2 million seed raise.
  • The capital will allow Button Finance to hire talent and to develop its proprietary technology further.
  • Entities advised by Hildene Capital Management, LLC (Hildene), participated in the seed funding round.
  • "Demand was strong for the round, and we were oversubscribed and happy with our new partners," said Jason Harris, CEO of Button Finance.

Hildene Capital Mails Proxy Materials to CIB Marine Bancshares’ Shareholders in Connection With Annual Meeting

Retrieved on: 
Thursday, March 25, 2021

Hildene Capital Management, LLC and certain of its managed funds (collectively Hildene), which beneficially own a collective 36% of CIB Marine Bancshares, Inc.s (OTC:CIBH) (CIB Marine or the Company) series A and series B preferred stock, as well as approximately 0.10% of the Companys common stock, today announced that it has sent its fellow CIB Marine shareholders Hildenes proxy materials in connection with the Companys 2021 Annual Meeting on April 29, 2021.

Key Points: 
  • Hildene Capital Management, LLC and certain of its managed funds (collectively Hildene), which beneficially own a collective 36% of CIB Marine Bancshares, Inc.s (OTC:CIBH) (CIB Marine or the Company) series A and series B preferred stock, as well as approximately 0.10% of the Companys common stock, today announced that it has sent its fellow CIB Marine shareholders Hildenes proxy materials in connection with the Companys 2021 Annual Meeting on April 29, 2021.
  • Hildene also today sent a letter to shareholders highlighting CIB Marines recent attempts to mislead shareholders and obstruct a fair and democratic vote at the Annual Meeting, which Hildene believes further underscore why immediate change is required at the Company to maximize value for ALL shareholders.
  • Hildenes proxy statement and letter to CIB Marine shareholders can be found below at: http://www.stockholderdocs.com/cibh/
    Founded in 2008, Hildene Capital Management, LLC is an asset manager, which has together with its affiliates, over $12.5 billion in hedge fund, separate account and CDO assets under management.
  • The firm seeks to generate attractive risk-adjusted returns for its institutional clientele by implementing a disciplined, systematic investment approach.