CMBS Veteran Launches Advisory Firm
CHICAGO (Business Wire EON/PRWEB ) May 15, 2008 --
Frederick L. Fellows has
established an investment management company focused on commercial real
estate debt securities. Fellows, 43, founded Basalt
Capital LLC (Basalt) in Chicago IL to build upon the success of its
predecessor, Cargan Investment Management LLC which he formed in 1999.
Basalt, an institutional advisory firm, currently manages commercial
mortgage backed security (CMBS) investments for a related investment
partnership. Basalt has launched a $500 million high yield CMBS oriented
investment fund and expects to have their first closing within the next
several months.
Fellows said, “a carefully selected unlevered
CMBS investment can yield better returns than many leveraged equity
investments,” and he added that “providing
access to homogeneous assets over an extended period of time is greatly
appreciated.”
Chicago-based Basalt operates a satellite office in Lake Forest, IL and
has a Florida office in its near-term plans. Fellows stated, “our
platform is has unique CMBS expertise and is supported by extensive
research and proprietary analytics.”
Fellows has twenty years of experience in commercial real estate and
recently resigned as head of structured finance, overseeing CMBS
and ABS trading at
Southwest Securities Inc.
Fellows’ CMBS background started at Nomura
Securities International in 1993 with his commercial real estate career
starting several years earlier with CB Richard Ellis. At Nomura, Fellows
initially worked for Ethan Penner directing new issuance of CMBS in
excess of $20 billion and later was the head of CMBS trading.
Fellows joined Southwest Securities Inc in 2001 and built an extremely
profitable high yield CMBS and ABS trading operation.
The story behind the Basalt name is based on rock solid focus.
Basalt Capital’s name was inspired by a quaint
mountain community located near Aspen Colorado at the confluence of two
Gold medal trout streams, the Fryingpan and the Roaring Fork Rivers.
Basalt is a common volcanic rock rich in magnesium and iron used to
fortify concrete. Basalt has also formed on Earth's Moon, Mars, and
Venus. The dark areas visible on our moon are plains of flooded basaltic
lava.
www.BasaltCapital.com
See the original story at: http://eon.businesswire.com/releases/basalt/fellows/prweb947194.htm
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