BURLINGAME, Calif., Dec. 2, 2021 /PRNewswire/ -- Slatt Capital today announced that it has entered into a joint venture with Doug Watson to expand into the commercial real estate private lending bridge loan business. The newly formed venture will operate as the Bridger Fund. The fund, opening to investors in early 2022, will provide private commercial real estate bridge loans in California.
Doug Watson, a key founder of Rubicon Capital Partners and cofounder of Rubicon Mortgage Fund, will lead the business in partnership with Michael Kaplan and Jason Berry of Slatt Capital. Slatt Capital will provide loan servicing to Bridger Fund in addition to operational infrastructure support, including marketing, HR, technology, and legal.
"It has been a strategic initiative of Slatt Capital to enter the fund business for several years, but we needed to find the right person to partner with," said Dan Friedeberg, CEO of Slatt Capital. "Aligning with Doug Watson, a widely respected and proven leader in the fund business, is the perfect fit for us. With the experience and tenure in both the institutional and private money banking worlds, our client base will now have access to a correspondent private bridge lender in California that will complement our existing lender network."
"I am excited to partner with Slatt Capital's forward-thinking leadership in growing our Bridger Fund business. After working in the private money fund business for over 20 years, I knew it was vital for me to align myself with an established firm guided by industry leaders," said Doug Watson. "I have had the pleasure of working with Slatt Capital since Barry Slatt himself was running the company. I have also enjoyed working with the principals and brokers of Slatt Capital to fund loans for many years. Additionally, my long-standing relationship with Dan Friedeberg dates back to when we met on the football field at UC Davis."
Slatt Capital is a long-standing privately held and respected institution with more than 50 years of experience in commercial mortgage banking; it has a diverse correspondent network that includes several of the most prestigious lenders in the country, providing custom-tailored solutions for borrowers' needs. The Bridger Fund business will add to and complement our existing correspondent network. Partnering with Doug Watson and the Bridger Fund will give us the ability to further accommodate all the loan requests from our clients and create a new investment opportunity.
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SOURCE Slatt Capital