In the continued expansion of its commercial banking operations to provide bespoke and customized fund-level financing to alternative asset managers and the private capital industry, EverBank (temporarily TIAA Bank) announced the launch of its new Fund Finance division this week under the leadership of industry veterans Jeff Johnston and Mike Mascia.
The start of the Fund Finance business marks the first expansion milestone for EverBank. On August 1, TIAA announced the completion of the sale of TIAA Bank to private investors and the bank is temporarily going to market under the legacy TIAA Bank brand until early September, when it will fully convert to the new EverBank brand.
Jeff, the division's co-leader, is widely regarded as one of the world's leading fund finance experts. He previously founded and led Wells Fargo's fund finance business and grew it into the world's largest global fund finance platform. He is also a co-founder and the current chairman of the Fund Finance Association.
Mike, previously the chair of the Finance Group and head of the Fund Finance practice here at Cadwalader, is credited with founding or co-founding many of the industry's key initiatives, including the Fund Finance Association, the annual Global Fund Finance Symposium (now in its 13th year), the Cadwalader Finance Forum, Fund Finance University and this Fund Finance Friday newsletter. Mike was also the contributing editor of five editions of the Pink Book, the fund finance industry's legal treatise.
Together, Jeff and Mike bring more than 40 years of fund finance experience and unmatched transactional leadership to this new bank division.
