Standish Mellon Asset Management Company LLC ("Standish"), a BNY Mellon investment boutique with a focus on fixed income, announced that Standish's dedicated mortgage team have become employees of its subsidiary, Amherst Capital Management LLC ("Amherst Capital"), in order to unite Amherst Capital's deep real estate expertise and industry-leading technology with Standish's investment processes for mortgage-related assets.
As dual officers of Standish, the mortgage team will remain in Boston and continue to utilize the same investment processes for Standish clients, while gaining access to Amherst Capital's real estate data set and analytical tools to provide an information advantage for specialized solutions in the U.S. real estate credit space. The mortgage team will provide investment advice with respect to approximately US$ 6.5bn of real estate-related assets.
"Amherst Capital's loan-level data analysis of the real estate capital markets provides the mortgage team with a unique perspective on the fundamental elements driving asset performance, and a specialized set of tools for managing risk," said Dave Leduc, CEO of Standish. "This collaboration reinforces Standish's long history of innovation, client service and working with the best talent in the industry to enhance the investing process for our clients."
Under the leadership of Sean Dobson, a well-known real estate finance executive with a history of managing U.S. real estate investment strategies, Amherst Capital is tapping the expertise of senior mortgage analysts, including Laurie Goodman, who provides leadership and guidance in research and investment strategy on an exclusive advisory basis as Non-Executive Director.
"This is an important milestone for Amherst Capital as we position ourselves to offer a comprehensive set of real estate credit investment capabilities, including direct lending strategies," said Sean Dobson, Amherst Capital CEO. "The U.S. real estate credit markets are still in disrepair from the financial crisis and asset managers will play a bigger role to facilitate recovery. Inefficiencies within the sector tend to reward a high level of investment in research and analytics, and as such, Amherst Capital is poised to play a significant role in this transformation."
Amherst Capital was established by BNY Mellon in collaboration with Amherst Holdings in 2015 to support Standish's capabilities in real estate investing and to also offer standalone real estate investment solutions to meet the growing demand of an underserved real estate credit market as a consequence of the changing U.S. regulatory landscape.