Stamford, Connecticut-based Sorin Capital Management, an alternative investment firm specialising in commercial real estate debt and asset-backed securities, has appointed Matt Chasin as chief operating officer, partner and member of the investment committee.
He will be responsible for all non-investment activities, focusing on the operational and financial aspects of Sorin Capital as well as managing borrowing relationships and activities for the Sorin funds.
'Matt's significant experience in mortgage and credit-related financing and risk management is an excellent addition to our management team,' says Sorin Capital chief executive Jim Higgins.
'We look forward to benefiting from Matt's relationships and expertise as the firm continues to grow its investment platform and evaluate alternative sources of funding in the current marketplace.'
Says Chasin: 'I am excited to join a firm that has committed such a significant amount of time and resources to developing an exceptional infrastructure. Sorin was previously a longstanding client of mine, and I look forward to being a part of the team and contributing to the firm's growth and success.'
He was previously a senior managing director and head of repo financing activities for mortgage and structured products at Bear Stearns, with responsibilities including financing the investment bbnk's global mortgage and structured product position, and all trading, hedging and risk management of the firm's mortgage matched book business.
Chasin's responsibilities also included the management of Liquid Funding and Master Funding, two financing conduits/SIVs used by Bear Stearns, and he was a member of the firm's global finance committee. He began his career as an investment banking analyst at Chemical Bank.
Sorin Capital Management, which also has offices in New York and Philadelphia, was founded by Higgins in 2004 and currently manages USD1.4bn in a variety of fixed-income and real estate securities.