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Oaktree Capital and Redwood Trust Form Joint Venture to Invest in Business Purpose Bridge Loans
- Client News
- June 12, 2023
Practices
Paul, Weiss is advising funds managed by Oaktree Capital Management, L.P., in the launch of a joint venture with Redwood Trust, Inc., a leader in expanding access to housing for homebuyers and renters, to invest in business-purpose bridge loans originated by CoreVest American Finance Lender, a top-tier bridge-lending platform and a division of Redwood.
Total equity commitment to the joint venture, funded 80% by Oaktree and 20% by Redwood, has the potential to finance over $1 billion of newly originated bridge loans, inclusive of proceeds from secured financing. The investment vehicle has a three-year reinvestment period during which time principal repayments can be redeployed.
The Paul, Weiss team includes corporate partners Samuel Welt and Kenneth Schneider; tax partner Robert Holo and counsel Sohail Itani; and antitrust counsel Marta Kelly.