Mariner's Galton Team Appoints Head of Servicing Oversight

Former Chase Mortgage executive adds critical servicing expertise to residential mortgage credit team

Nov 01, 2011, 08:29 ET from Mariner Investment Group, LLC

NEW YORK, Nov. 1, 2011 /PRNewswire/ -- Mariner Investment Group, LLC's residential mortgage credit investment team Galton Capital Management recently announced the appointment of Tim Lynch as Head of Servicing Oversight for that unit. Mr. Lynch will augment the firm's expertise in mortgage investing as it anticipates a new investment product offering. Mr. Lynch will oversee and manage all mortgage servicing activities related to this new product including servicer evaluation, selection and monitoring across all of that investment team's activities.  

Mr. Lynch joins the Galton investment team with 25 years of mortgage industry experience, with a particular expertise in mortgage servicing. He held various senior servicing management roles at two of the largest U.S. servicers - Chase Manhattan Mortgage and Washington Mutual. Most recently, Mr. Lynch worked for Chase Home Finance as a Default Risk Portfolio Manager and later as Head of Liquidation Strategy in Chase's Default Strategy department.

"Tim's hiring is a natural extension of our team's mortgage securities focus and augments our expertise in trading residential mortgages," said Matt Whalen, a portfolio manager and co-head of the Galton investment team. "His experience, particularly his long career at Chase Manhattan Mortgage, provides us with a thorough understanding of servicing operations and the rapidly shifting regulatory environment that will help our valuation, risk assessment and management of whole loans and residential mortgage-backed securities, on both the long and short side."

Mr. Lynch rejoins several colleagues from Chase Manhattan Mortgage, including Mr. Whalen, bringing critical servicing expertise to a seasoned mortgage credit trading team whose experience spans origination, servicing, structuring, legal review, trading and hedging of both residential whole loans and RMBS.

"Tim's hands-on experience managing default strategies for the third largest U.S. servicer, specifically during a time of unprecedented market stress and complexity, will bring a unique perspective to our investment process," said Kevin J. Finnerty, a portfolio manager and co-head of the Galton investment team. "We believe his grasp of the servicing industry's behavior will provide us with an informational and competitive advantage in evaluating opportunities in the whole loan and RMBS markets and in maximizing returns on our mortgage-related investments."

The firm is planning a new investment product focusing primarily on acquiring pools of seasoned whole loans, as well as investing in legacy non-agency RMBS, single name RMBS CDS, and mortgage credit indices. It will be the team's third longer duration investment product offering.

The Galton investment team joined Mariner in December 2007 and is led by Kevin J. Finnerty, Matt Whalen and Paul Park. As of June 1, 2011, the team advised more than $1.3 billion in committed capital on behalf of Mariner employing long- and short-term duration investment strategies primarily with the objective of investing in residential mortgage opportunities. The team is currently comprised of 16 members.

About Mariner Investment Group, LLC

Mariner Investment Group, LLC is an SEC registered investment adviser, founded in 1992 by William J. Michaelcheck. With approximately $12 billion in assets under management in conjunction with its Associated Advisers(1), Mariner manages multiple proprietary hedge funds, funds of hedge funds, and other alternative investments.  Mariner has 178 employees located in Harrison, New York City, Boston, Rowayton, London, Seoul, and Tokyo(2). Mariner's global clients include insurance companies, public and corporate plan sponsors, endowments, foundations, family offices, and institutional money managers.

(1) As of September 1, 2011, Mariner’s total AUM was approximately $4.9 billion (“Mariner AUM”). In addition, Mariner is associated with certain investment advisers (e.g., pursuant to an ongoing agreement in which Mariner provides certain substantive support services to those firms in exchange for a percentage share of that adviser’s revenues) who are separately registered with the SEC (the “Associated Advisers”) and have collective AUM of approximately $7.5 billion (the “Associated Advisers’ AUM”). In total, Mariner’s AUM in conjunction with the Associated Advisers’ AUM is approximately $11.9 billion. Please note that in certain limited instances, Mariner serves as the investment manager to client accounts (e.g., custom “fund of one” investor vehicles), but allocates capital from that client account to Associated Advisers (e.g., invests in a hedge fund advised by an Associated Adviser) (the “Allocated Assets”). Accordingly these Allocated Assets (currently $510.6 million) are included in both Mariner’s AUM and its Associated Adviser’s AUM. AUM figures are estimated and unaudited.

(2) Offices in London and Tokyo are Mariner affiliated offices.

SOURCE Mariner Investment Group, LLC