Pier Asset Management reposted this
I’ll be at this on Monday. See you there?
Pier Asset Management LLC is an investment firm who facilitates access to the alternative lending industry for institutional investors. Founded in 2017, the women owned and operated firm manages private funds, separately managed accounts, and custom solutions providing investors experienced fiduciary oversight in the attractive marketplace lending asset class.
External link for Pier Asset Management
1230 Rosecrans Ave
Ste 300
Manhattan Beach, California 90266, US
Pier Asset Management reposted this
I’ll be at this on Monday. See you there?
Pier Asset Management reposted this
We’re now at 34 states with rising unemployment trends. Illinois has seen an increase in unemployment of over 0.5% since April.
Pier Asset Management reposted this
Unsecured consumer impairments, defaults, and delinquencies were all lower in August. Source: dv01
Pier Asset Management reposted this
When selling an asset, if you provide coarse data, you should expect lower prices. If it’s data that will make the asset less attractive, realize that the buyer is going to assume the worst anyway if you don’t provide it. I give more credit and tighter bid prices to sellers who are fully transparent.
Pier Asset Management reposted this
Two term sheets out already. Three loan tapes to secondary portfolios on their way this week. Good start to the month, team!
Pier Asset Management reposted this
What do you do? We invest in small dollar loans (<$250k) and contractual cash flows. Examples: small business, consumer loans, bridge real estate, music royalties advances, litigation finance, etc. We invest in a few ways: 1. Buy pools of loans (mostly in the secondary market) 2. Asset based lending to fintech + alt lenders (seasoning, warehouse) 3. Other niche opportunistic deals Buying secondary pools comments: Sellers are other funds, banks, family offices, securitization vehicles, etc. We act as a liquidity provider. If someone needs to sell for a reason, we can help. Usually short duration runoff pools. Buy at a discount, but target fair yields. ABS examples and comments: Loans are put into an SPV. Senior lien to SPV. Variety of portfolio covenants. Draw facility, non-revolving. Origination fee and interest rate. No draw fees. No warrants. No unused line fees. Core to our strategy: - Small (<$15MM) deal size - We focus on short duration (eg. no 30-yr mortgages) - Network is critical. Deals almost always sourced through network, not brokers This is a niche strategy in a niche asset class. Strategy not big enough for everyone, unfortunately.
Pier Asset Management reposted this
State unemployment continues to trend higher. States on a steady trend higher: KA, MD, OH, SC, MO, MA, MN, UT States still seeing a decrease: CT, ME, AZ
Great resource for FinTechs from LendAPI
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Pier puts out a monthly newsletter called Planks & Pilings. It usually includes a short piece from myself, a similar piece from Jillian, a few charts, suggested reading/listening, and Easter eggs galore. You can sign up on our website, here: https://lnkd.in/gmSnmbhU
Pier Asset Management reposted this
General suggestion: If you’re trying to sell something and get a good price, provide as much info as you can. You’re unlikely to pull something over on the buyer. I bid low on loan portfolios constantly due to lack of payment history.