Waterfall promotes Wong and Raghavan to partner

• Wong joined Waterfall in 2007 while Raghavan came on board in 2014
• Wong began his career at Fidelity Investments
• Prior to Waterfall, Raghavan worked at Barclays Capital where he led the firm’s CMBS Research division

Waterfall Asset Management has promoted Leo Wong and Keerthi Raghavan to partner.

Wong and Raghavan are based in the firm’s New York office and join the six current partners at the firm.

Wong joined Waterfall in 2007 to lead the firm’s residential loan investment and trading activities, most recently serving as head of loan strategies and as a member of the Waterfall investment committee. Wong started his career in RMBS and ABS research in Fidelity Investments’ structured products group after earning an undergraduate degree from the Massachusetts Institute of Technology.

Raghavan leads Waterfall’s bond trading strategy focusing on investments in ABS, CMBS, RMBS, CLOs and Corporates, and is a member of the Waterfall investment committee. He joined Waterfall in 2014 from Barclays Capital where he led the firm’s CMBS Research division. He has an MBA from the Indian Institute of Management.

Tom Capasse, co-founder of Waterfall along with Jack Ross, said in a statement: “Waterfall is driven by the innovative and entrepreneurial nature its employees bring to capital solutions, and Keerthi and Leo have embodied that ethos during their tenure. We look forward to their success and growth as the firm continues to expand across geographies and asset classes to identify markets where we have an advantage in our continued effort to deliver market-leading risk-adjusted returns for our clients.”

Waterfall Asset Management is a global alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity. Headquartered in New York City, it was founded in 2005. As of July 1, 2022, Waterfall manages approximately $11.0 billion in assets under management.