Financial services provider Merchants Capital announced it formed a registered investment advisor, Merchants Asset Management LLC, and secured equity commitments totaling $165 million through a joint venture between an institutional investor and Merchants Bancorp.
The joint venture will purchase multifamily and healthcare commercial real estate loans from Merchants Capital’s parent company, Merchants Bank of Indiana, the company said. This venture will be managed by the newly formed investment advisor and initially operated by Merchants Capital’s Evan Gibson, vice president of Debt Strategies; Terry Oznick, senior vice president and general counsel; and Dean Ramsamooj, vice president of debt strategies, while they continue to build out the investment advisory business.
“This unique joint venture increases our ability to serve our top customers by increasing our lending capacity to them and expanding our product suite beyond the constraints of the bank’s balance sheet,” said Merchants Capital President and CEO Michael Dury. “Moving forward, we can be more creative, efficient, and provide a better execution for our most valued clients.”
