Private Credit Specialists

In March 2020, RMWC acquired a complete team of six professionals with extensive experience in sourcing, underwriting, and asset management of real estate loans.


Led by Steven Fischler, a veteran of the 2008-2011 Lehman real estate recovery workout team, this group collaborated closely with the RMWC investment and asset management team for the past three years on more than 25 loans that were collectively sourced, underwritten, closed, and asset managed. Since 2012, the newly combined RMWC team has transacted more than $3 billion of funded real estate-based mortgage, mezzanine, and equity investments on which it provided principal capital or advisory services.


RMWC is jointly led by Co-Owners Chief Executive Officer Coleman Andrews, a Co-Founding Partner of Bain Capital, and Chief Investment Officer Steven Fischler.

We Are

Chief Executive Officer Coleman Andrews, Co-Founding Partner of Bain Capital, and Chief Investment Officer Steven Fischler, a veteran of the rise, bankruptcy, and recovery periods at Lehman, bring deep experience in their joint oversight of RMWC’s investing. Both Coleman and Steven have concentrated primarily on secured bridge lending since 2012 in major US markets. Prior to that time, Steven learned the major lending aspects of sourcing, underwriting, and asset management through the events that preceded and resulted from the 2008 Lehman bankruptcy. Coleman, from his early career on the economic policy staff of The White House through multiple market cycles since then, gained valuable insight into defining the risk intersections of economics, finance, geopolitics, and societal change. Additionally, our three Managing Directors collectively bring extensive lending experience to RMWC’s investment executive team.
Ingrained from Coleman’s years at Bain Capital and Bain & Company, and from Steven’s front-line experience before, during and after the Lehman bankruptcy, our commitment to analytical rigor and programmatic due diligence permeates all aspects of our work.

In credit, sound underwriting is always of primary importance. We never lose sight of the crucial underwriting question: “Whatever happens, how do we get our principal back?” Performance differences between sound underwriters and mediocre ones are oftentimes dramatic over the course of a credit cycle. The market shocks of 2020 are a period that will likely reward those most experienced and disciplined in credit management.

We pride ourselves on our culture of humility, collaboration characterized by open, honest, and direct communication, and a zeal for constant learning. When this culture is the driving force behind an analytically rigorous and disciplined investment process such as ours, we believe that compelling risk/return metrics can result.
We prefer to do many things with few capital partners, rather than few things with many capital partners. Our business is built around a small but exceptional group of limited partners who prefer deep, enduring investment relationships with people they can trust who manage strategies they understand. As of March 2020, approximately 15% of RMWC’s AUM is owner and principal capital, aiding the alignment of our collective interests.

Strategic Thinkers

We believe senior, performing, short-term credit backed by an abundance of hard collateral can provide attractive risk-mitigated returns in a post-Zero Interest Rate Policy environment as investment markets continue to be shaken by shocks and surprises. We have been carefully preparing since the summer of 2011 for the market environment that we must all now navigate in 2020 and beyond.

The three accompanying videos provide timely insight into our current perspectives.

Our Perspectives

Our Perspectives

  • Private Credit at This Stage of the Cycle

    RMWC CEO Coleman Andrews and global news anchor Michelle Makori discuss Private Credit opportunities—what to look for and what to avoid—at this stage of the credit cycle.



    This video is confidential and intended solely for the viewer. It is neither an offer to sell, nor a solicitation of an offer to buy, interests in any specific security. No part of this video may be reproduced or distributed without the prior written consent of RMWC. Past performance is not indicative of future results. The performance discussed in the video is historical and any future performance will be impact by market factors, which are beyond the control of RMWC, as well as investment-specific factors. There is no guarantee that RMWC will be able to find investments in the future that will provide similar results to the historical performance obtained by RMWC. In no circumstances should RMWC’s discussion of historical performance be regarded as a representation, warranty or prediction that future clients will receive any particular performance, or that RMWC’s investment strategy will achieve or is likely to achieve any particular result, or that clients will be able to avoid losses, including total losses of their investment. RMWC is not providing tax advice and each investor should consult with their own tax professionals regarding the impact the REIT structure might have on their own specific circumstances. Tax regulations may change and are outside the control of RMWC. Information herein is believed to be accurate; however, RMWC does not guarantee the accuracy or completeness of the information contained herein.

See More Perspectives

And Collaborators

Our organizational culture supports dynamic team collaboration and efficient decision-making. We encourage each other to challenge ideas, and value varying viewpoints with a shared goal to yield optimal results.

    Coleman Andrews

    Chief Executive Officer and Co-Owner

    Coleman is the Founder, Chief Executive Officer and Co-Owner of RMWC, managing strategies primarily in private credit markets. RMWC’s strategies benefit from Coleman’s diverse experience at Bain Capital and Bain & Company, his prior experience as CEO of two global companies, and his observations gained and lessons learned through several economic and market cycles.

    More

    Steven Fischler

    Chief Investment Officer and Co-Owner

    Steven is the Chief Investment Officer and Co-Owner of RMWC, managing the Firm’s real estate investment strategies. Steven oversees the origination, underwriting and asset management team and he directs RMWC’s Investment Committee. Prior to RMWC, Steven started his career at Lehman Brothers in 2004 and worked in the commercial real estate group through 2011.

    More

    Marc Brooks

    Managing Director

    Marc is Managing Director of Origination at RMWC, responsible for originating new real estate credit opportunities. Marc has over 23 years of commercial real estate experience. Prior to RMWC, Marc was an executive director at Prudential Global Investment…

    More

    Michael Rubenstein

    Managing Director

    Michael joined RMWC at its inception in 2008 and serves as Managing Director of Research & Due Diligence. He has coordinated the sourcing, underwriting, and asset management on more than 430 closed loan transactions between 2012…

    More

    Curt Riggs

    Managing Director

    Curt Riggs is Managing Director for Underwriting & Asset Management of RMWC and is responsible for underwriting new opportunities and asset managing existing investments. Curt has over 12 years of commercial real estate experience…

    More

    Nate Clemensen

    Managing Director

    Nate joined the RMWC team in 2013.  He serves as the Director of Finance and Operations, responsible for operations, finance and infrastructure, and is also the Chief Compliance Officer. Prior to RMWC, Nate joined the investment industry in 2004 with J.P. Morgan.  During his time at J.P. Morgan, he held roles in both Operations and Private Banking. At the Private Bank, Nate was a Banker and Client Advisor…

    More

    Rachel Markus

    Managing Director

    Rachel joined the RMWC team in October of 2014.  She serves as the firm’s Director of Business Development, responsible for sales and marketing.  Prior to RMWC, Rachel was the founding member of the Investor Relations and Marketing team at Elm Ridge Management, a long/short equity hedge fund. Previously, she was a member of the Global Distribution team at Citadel (2008-2012) and before joining Citadel…

    More

  • Coleman Andrews

    Chief Executive Officer and Co-Owner

    Coleman is the Founder, Chief Executive Officer and Co-Owner of RMWC, managing strategies primarily in private credit markets. RMWC’s strategies benefit from Coleman’s diverse experience at Bain Capital and Bain & Company, his prior experience as CEO of two global companies, and his observations gained and lessons learned through several economic and market cycles.

    More

    Steven Fischler

    Chief Investment Officer and Co-Owner

    Steven is the Chief Investment Officer and Co-Owner of RMWC, managing the Firm’s real estate investment strategies. Steven oversees the origination, underwriting and asset management team and he directs RMWC’s Investment Committee. Prior to RMWC, Steven started his career at Lehman Brothers in 2004 and worked in the commercial real estate group through 2011.

    More

  • Marc Brooks

    Managing Director

    Marc is Managing Director of Origination at RMWC, responsible for originating new real estate credit opportunities. Marc has over 23 years of commercial real estate experience. Prior to RMWC, Marc was an executive director at Prudential Global Investment…

    More

    Michael Rubenstein

    Managing Director

    Michael joined RMWC at its inception in 2008 and serves as Managing Director of Research & Due Diligence. He has coordinated the sourcing, underwriting, and asset management on more than 430 closed loan transactions between 2012…

    More

    Curt Riggs

    Managing Director

    Curt Riggs is Managing Director for Underwriting & Asset Management of RMWC and is responsible for underwriting new opportunities and asset managing existing investments. Curt has over 12 years of commercial real estate experience…

    More

  • Nate Clemensen

    Managing Director

    Nate joined the RMWC team in 2013.  He serves as the Director of Finance and Operations, responsible for operations, finance and infrastructure, and is also the Chief Compliance Officer. Prior to RMWC, Nate joined the investment industry in 2004 with J.P. Morgan.  During his time at J.P. Morgan, he held roles in both Operations and Private Banking. At the Private Bank, Nate was a Banker and Client Advisor…

    More

    Rachel Markus

    Managing Director

    Rachel joined the RMWC team in October of 2014.  She serves as the firm’s Director of Business Development, responsible for sales and marketing.  Prior to RMWC, Rachel was the founding member of the Investor Relations and Marketing team at Elm Ridge Management, a long/short equity hedge fund. Previously, she was a member of the Global Distribution team at Citadel (2008-2012) and before joining Citadel…

    More

RMWC’s differentiated approach to credit investing is designed to provide
yield replacement, current income, strong downside protection, and diversification.

Focused on Credit Opportunities

RMWC has a focused, differentiated approach to yield replacement, investing primarily in short-term, first lien, low loan-to-value Secured Bridge Loans to seasoned real estate equity sponsors.

This is not “drive-by investing”. We focus our effort where we can convert effective research effort into proprietary insight; and where our enhanced capabilities to understand complexity may provide an edge for capturing potential returns.

Separately, we invest in other smaller private credit sectors, primarily concentrated on strategies where risk-adjusted returns may be substantially higher than in larger, traditional fixed income sectors. These allocations are adjusted opportunistically over the life of the credit cycle.

We leverage the infrastructure honed over the past 12+ years for originating, underwriting, investing in, monitoring, and harvesting differentiated credit and event-driven opportunities.

Loan Programs

Since 2011, RMWC has participated in more than 400 transactions for borrowers seeking short-term, secured bridge loans, typically on operating real estate properties. Borrowers value RMWC’s goal of providing speed of decision-making and reliability in closing.


 

Typical Terms & Conditions:

  • Loan Size Up to $75 Million
  • Loan-to-Value Up to 65% of assessed stabilized value
  • Loan-to-Cost Up to 95% of cost
  • Term Up to 24 months
  • Collateral Real estate properties including:
    • Multi-family
    • Mixed Use
    • Hotels
    • Office
    • Retail
    • Land

RMWC loans in most of the Top 30 MSAs in the United States.

 

Borrower’s Submission Form

How to Reach Us

750 Lexington Avenue, Suite 2302
(entrance on 59th close to Lexington)
New York, NY 10022

Investor Relations
917-843-7306
info@rmwc.com