SUMMIT, N.J.–(BUSINESS WIRE)–Toorak Capital Partners, Inc. (“Toorak”), the largest capital provider to the residential bridge real estate lending industry, today announced that Carole Mortensen and Ketan Parekh have joined the firm as Managing Directors and Head of Credit and Head of Business Development and Capital Markets, respectively.
“This is a remarkable growth period for Toorak,” said John Beacham, CEO of Toorak Capital Partners. “Carole is a proven business builder who will help shape Toorak’s ability to further institutionalize this space, and Ketan’s senior-level insight and proven ability to build strong relationships will be invaluable assets to our growing firm. I look forward to working with Carole and Ketan, and I am certain Toorak will significantly benefit from their leadership.”
Over the course of her 20-year career, Mortensen has managed over $30 billion in ABS, RMBS and CMBS transactions. She joins Toorak from M1 Strategic Advisors, a consulting firm that supports specialty finance companies, where she served as Managing Principal. Prior to M1, Mortensen held leadership roles of increasing responsibility during her 8-year tenure at Waterfall Asset Management, culminating in her appointment as Chief Operating Officer. Mortensen managed a number of M&A transactions, including the acquisition of residential, commercial and small business lending platforms and portfolios and she was a key member of the leadership team that led the transition of Ready Capital (NYSE:RC) to a public company. Earlier in her career, Mortensen held leadership roles at investment banks, supporting large mortgage conduits at UBS, Credit Suisse and Société Générale. She began working in capital markets as an RMBS analyst at Moody’s Investors Service. Mortensen holds a Bachelor of Arts in Political Science from Seton Hall University.
Parekh is joining Toorak from Invictus Capital Partners, a Washington, D.C.-based alternative mortgage credit fund, where he served as Managing Director and led the firm’s business-purpose loan operations, overseeing loan sourcing, managing credit, operations and portfolio, and asset management. Prior to Invictus, Parekh held senior management positions at Window Rock Capital Partners and Premium Point Investments. Parekh held senior positions in the structured finance business of Bank of America Merrill Lynch and UBS and he headed Capital Markets for Ameriquest Mortgage Company. Earlier in his career, Parekh served as an associate at KPMG and PricewaterhouseCoopers. Parekh received a Bachelor of Business Administration in Accounting and Finance from James Madison University.
Commenting on the announcement, Mortensen shared: “I am thrilled to lead Toorak’s credit team. I joined Toorak because I believe its lending solutions and solid team uniquely position the firm to drive significant growth in 2020 and beyond.”
Commenting on the announcement, Parekh shared: “I look forward to joining the team at Toorak Capital Partners. The team has built an excellent reputation among investors and I look forward to building upon this legacy and contributing to Toorak’s continued success.”
Backed by global investment firm KKR, Toorak Capital Partners has revolutionized the way business purpose residential real estate lenders access capital. The firm was the first to link small-balance commercial and residential originators with institutional capital, and has perfected this approach in the single-family residential bridge and 30-year single family rental lending space.
To learn more about Toorak Capital Partners’ correspondent lending platform, please contact the firm at [email protected] or 212-393-4100.
About Toorak Capital Partners
Toorak Capital Partners is an integrated correspondent lending platform that funds small balance business purpose residential, multifamily and mixed-use loans throughout the U.S. and the United Kingdom. Headquartered in Summit, N.J., Toorak Capital Partners acquires loans directly from private lenders that originate high credit quality loans. Toorak Capital Partners’ principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak Capital Partners-funded projects have renovated or stabilized housing for more than 12,000 families to date – an average of more than 500 families every month. Further information is available at www.toorakcapital.com.
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