Velocity Financial To Acquire Toorak Capital's Operating Platform
(RTTNews) - Thursday, Velocity Financial, Inc. (VEL) announced an agreement to acquire the operating platform of Toorak Capital LLC, which is majority-owned by funds advised by affiliates of KKR.
(RTTNews) - Thursday, Velocity Financial, Inc. (VEL) announced an agreement to acquire the operating platform of Toorak Capital LLC, which is majority-owned by funds advised by affiliates of KKR.
BELLINGS Intelligence Score: 18
Why it matters
This acquisition represents a notable business development within private credit but is routine in nature and unlikely to materially affect credit markets or underwriting standards broadly.
Sources
Nasdaq
Velocity Financial To Acquire Toorak Capital's Operating Platform
(RTTNews) - Thursday, Velocity Financial, Inc. (VEL) announced an agreement to acquire the operating platform of Toorak Capital LLC, which is majority-owned by funds advised by affiliates of KKR.
Alternative Credit Investor
Velocity snaps up RE lender Toorak and $3bn portfolio
Real estate lender Velocity Financial has entered into agreements to manage a $3bn (£2.2bn) business-purpose loan (BPL) portfolio from Toorak Capital and acquire its operating platform. Toorak is a business-purpose lending and asset management platform and is majority owned by…
Connect CRE
Velocity Financial to Acquire Toorak Operating Platform, Manage $3B Loan Portfolio
Velocity Financial, Inc. has agreed to acquire the operating platform of Toorak Capital LLC, a single-family and multifamily lending and asset management platform majority owned by funds advised by affiliates of KKR. Toorak has also entered into separate agreements with a…