Goldman Sachs to acquire specialty commercial lender

by Francis Monfort17 Oct 2017
A Goldman Sachs affiliate has entered a definitive agreement to acquire Genesis Capital, a specialty commercial lending platform focused on residential real estate developers.

Genesis will be acquired from funds managed by Oaktree Capital Management and the platform’s management. Terms of the transaction were not disclosed.

The acquisition will support Genesis’ next phase of growth by increasing scale in its current market segments as well as introducing new products to a national customer base.

"Our new partnership is a validation of the platform we have worked tirelessly to build and the strong relationships we have developed with a loyal customer base," Genesis co-CEO Robert Wasmund said. "We look forward to working with the Goldman Sachs team in our next stage of development."

"Over the last several years, we have grown significantly and solidified our position in the market,” Genesis co-CEO Rayman Mathoda said. “Through our robust and differentiated platform, we are well-positioned to extend financing solutions so that our customers can capitalize on the market's opportunities. This transaction will support that strategy by bringing further investment into the company and allow our customers to benefit from an expanded suite of offerings designed to meet their growing needs."

"We are delighted to partner with the Genesis management team and help them scale in a large and attractive segment of the real estate lending market," Goldman Sachs managing director Anthony Arnold said. "We look forward to building on Genesis' industry-leading platform and positioning the company for continued innovation and success."


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