NYC Investor Acquires Stake in Residential Capital Management

ATLANTA—New York City-based Premium Point Investments reports it has acquired a majority interest in Residential Capital Management, which is headquartered here.

Premium Point is an alternative asset management firm focused on residential mortgage assets. RCM is an operator of single-family residential homes in the southeast region of the US. The firm provides a combination of investment management services, including acquisitions, construction, property management, property preservation, leasing, title and disposition services. No terms of the transaction were disclosed. Citi advised Premium Point on the transaction.

Premium Point officials say the partnership represents an opportunity to add to its investment platform across the residential markets in a proven institutional asset class. The firm is a $1.7-billion institutional asset manager that engages in relative value trading and fundamental credit investing in the residential mortgage markets. Premium Point operates an established mortgage platform from real estate acquisition and property management to loan underwriting and sourcing to bond securitization, issuance, trading.

"We see great synergies between our businesses, and significant opportunities in the single-family rental market," says Anilesh Ahuja, chief executive officer and chief investment officer of Premium Point. "In RCM, we have a partner that is a best-in-class operator with a proven track record of investing for large institutional clients."

Lance Popp, president of Residential Capital Management, says the investment deal will expands his firm's capabilities. "This partnership with Premium Point provides us with capital markets expertise and access to its residential platform. With Premium Point as our partner, we now have the necessary resources to develop and expand nationally beyond the Southeast US,” she says.