Bayview Asset Management LLC, a subsidiary of Bayview Financial LP, has entered into a definitive agreement to sell a minority interest in the company to Blackstone Capital Partners, an affiliate of The Blackstone Group.
According to Bayview, this investment from Blackstone will help Bayview continue to grow its business in the secondary mortgage acquisition and mortgage securities markets. Bayview currently manages a $2 billion fund that focuses on the acquisition of whole mortgage loans and mortgage-backed securities.
The transaction is subject to approval from state mortgage regulatory bodies and is expected to close in the fourth quarter. The transaction involves no debt financing. J.P. Morgan Securities Inc. and Milestone Advisors LLC are acting as financial advisors to Bayview. Deutsche Bank is serving as financial advisor to Blackstone. Bayview's legal advisors are Clifford Chance LLP, Schulte Roth & Zabel LLP, and Stearns Weaver Miller Weissler Alhadeff & Sitterson P.A. Blackstone's legal counsel is Simpson Thacher & Bartlett LLP.
Source: Bayview Asset Management