New York-based private equity firm Aquiline Capital Partners has made an investment in Tourmalet Advisors.
Based in Fairfield, Connecticut, Tourmalet Advisors is alternative investment manager founded in October 2009 by its chief executive officer Michael Corasaniti.
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Tourmalet manages, invests, structures and trades distressed residential mortgage assets.
The company intends to generate superior risk adjusted returns via the purchase, servicing and liquidation of distressed whole loans.
Aquiline Capital chief executive Jeff Greenberg said the company has known Corasaniti and his team at Tourmalet for a number of years.
"Given Tourmalet’s track record, capabilities, and the opportunities we see in the market, we believe that this is the right time to make this investment," Greenberg said.
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By GlobalDataCorasaniti said the partnership will allow the company to expand its platform and accelerate its ability to capture opportunities created by the large and changing market in the US residential mortgages.
"Aquiline Capital Partners’ significant experience across a range of financial services as well as in-depth knowledge of our operations will help to inform and support our efforts," Corasaniti said.
