Bridger Commercial Funding, a secondary market services provider to the nation's banking industry for commercial real estate loans, has closed on a new round of growth capital financing from management and JMP Capital. According to Bridger, the investment will enable the company to further expand its lending and loan sales activities, including its BankXchange loan sale advisory platform and STAR Loan products.
JMP Capital, the merchant banking affiliate of JMP Group Inc., a full-service investment banking and alternative asset management firm headquartered in San Francisco, joins Banc of America Strategic Investments as Bridger's only outside investors, and Walter Keenan, president of JMP Capital, has joined Bridger's board of directors.
‘We are extremely pleased that JMP shares our vision of the market potential for Bridger and its customer base of over 2,500 banks and financial institutions,’ says Bob Schonefeld, CEO of Bridger. ‘With JMP's investment, our balance sheet is significantly strengthened, positioning Bridger to create new sources of liquidity for commercial real estate debt.’
Source: Bridger Commercial Funding
