Two
Harbors Investment Corp. (NYSE: TWO) announced today that
the parent company of its external manager, Pine River Capital
Management L.P., has hired Jack Taylor to serve as Global Head of
Commercial Real Estate and Stephen Alpart and Steven Plust to each serve
as Managing Directors.
Two Harbors also announced that it is planning an initial allocation of
approximately $500 million of equity capital to a commercial real estate
initiative.
“The addition of Jack, Stephen and Steven to the Pine River team will
enable Two Harbors to diversify our portfolio into commercial real
estate assets,” stated Thomas Siering, Two Harbors’ President and Chief
Executive Officer. “We believe the opportunity in the commercial real
estate market is attractive and will drive total stockholder return over
the long term.”
Prior to joining Pine River in New York as Global Head of Commercial
Real Estate, Mr. Taylor served as a Managing Director and Head of the
Global Real Estate Finance business for Prudential Real Estate
Investors. Mr. Taylor joined Prudential in May 2009 to establish the
integrated global debt funds platform, and was responsible for strategic
planning, product development, client relations and the investment
activities of the group. Mr. Taylor was also a member of the Global
Management Committee and chaired the Global Investment Committee for
debt and equity. From 2003 to 2007, Mr. Taylor was a partner at Five
Mile Capital Partners LLC and the portfolio manager for its flagship
structured income fund. Prior to Five Mile Capital Partners LLC, he was
co-head of real estate investment banking for the Americas and Europe at
UBS, led the Real Estate Group at Paine Webber and served on the firm's
Operating Committee. Previously, Mr. Taylor was head trader and manager
of the CMBS and Principal Commercial Mortgage businesses for Kidder,
Peabody & Co., Inc. Mr. Taylor was a founding governor of the Commercial
Mortgage Securities Association (now the Commercial Real Estate Finance
Council) and a member of the President's Council of the Real Estate
Roundtable. Mr. Taylor received a J.D. from Yale Law School, a MSc. in
international relations from the London School of Economics and
Political Science, and B.A. in philosophy from the University of
Illinois.
Prior to joining Pine River in New York as Managing Director of
Commercial Real Estate, Mr. Alpart served as a Managing Director for
Prudential Real Estate Investors. Mr. Alpart joined Prudential Real
Estate Investors in 2009 with Mr. Taylor and Mr. Plust to establish the
global debt funds platform. Mr. Alpart was a Portfolio Manager and a
member of the Debt Investment Committee and was responsible for
investment activities. Mr. Alpart has worked in real estate finance and
debt investing for over 20 years in a variety of functions, including
third party funds management, proprietary on-balance sheet lending,
transaction advisory, loan syndications and loan sales, and workouts /
restructurings. Areas of responsibility have included product
development, fundraising, origination, underwriting credit review,
structuring, pricing, deal terms, document negotiation, and asset and
portfolio management. Mr. Alpart received an M.B.A. in Finance and Real
Estate from New York University and a B.S. in Business Administration
from Washington University.
Prior to joining Pine River in New York as Managing Director of
Commercial Real Estate, Mr. Plust served as a Managing Director for
Prudential Real Estate Investors. Mr. Plust also joined Prudential Real
Estate Investors in 2009 with Mr. Taylor and Mr. Alpart to establish the
global debt funds platform. Mr. Plust was a Portfolio Manager and a
member of the Debt Investment Committee and was responsible for
investment activities. Mr. Plust has over 25 years of experience in real
estate finance and capital markets. Mr. Plust was an active advisor to
the Resolution Trust Corporation (RTC) in the development and
implementation of their securitization programs, with over $16 billion
in advisory and underwriting assignments. Mr. Plust has worked for
almost 20 years at principal investing platforms on Wall Street and in
fund management, where he has been primarily responsible for transaction
pricing and structuring, credit risk assessment, and analysis of complex
transactions and multi-asset portfolios. Mr. Plust received an M.B.A. in
Finance from Columbia University and a B.S. in Chemistry from Rensselaer
Polytechnic Institute.
Two Harbors Investment Corp.
Two Harbors Investment Corp., a Maryland corporation, is a real estate
investment trust that invests in residential mortgage-backed securities,
residential mortgage loans, mortgage servicing rights and other
financial assets. Two Harbors is headquartered in New York, New York,
and is externally managed and advised by PRCM Advisers LLC, a wholly
owned subsidiary of Pine River Capital Management L.P. Additional
information is available at www.twoharborsinvestment.com.
Additional Information
Stockholders of Two Harbors and other interested persons may find
additional information regarding the company at the Securities and
Exchange Commission’s Internet site at www.sec.gov
or by directing requests to: Two Harbors Investment Corp., 590 Madison
Avenue, 36th floor, New York, NY 10022, telephone
612-629-2500.
Copyright Business Wire 2014