Waterfall Asset Management LLC

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Waterfall Asset Management LLC ✚
CRD #	137746
SEC #	801-65087
CIK #	0001570717
AUM	22.0 B (2026-03-30)
Employees	133 (41% Investors, 0% Brokers)
Phone	212-257-4600
Address	1251 Avenue of The Americas New York, NY 10020
Source	[IAPD] [EDGAR] [Website] [LinkedIn]

Total AUM ($B) Copy

Sector	Form 13F Holdings	Value ($M)
	Camden Property Trust	12.9
	Avalonbay Communities Inc	12.3
	Apple REIT Nine Inc	10.8
	New Residential Investment Corp	9.7
	Millrose Properties Inc	9.1
	Colony NorthStar Credit Real Estate Inc	8.2
	ZAIS Financial Corp	6.3
	Park Hotels & Resorts Inc	6.1
	American Assets Trust Inc	5.1
	Inland American Real Estate Trust Inc	5.0
View All

Holdings by Sector ($M)

Type	Form D Funds	Date	Sold	AUM
HF	Waterfall Affordable Housing Credit Fund I LP	[2025-08-25]	116.3 M	107.7 M
	Filed 2026-03-23 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $50,000 · Remaining Indefinite · Duration More than one year · Commission $48,125 · Revenue Decline to Disclose
HF	Waterfall Private Asset-Backed Credit Master Fund I ERISA LP	[2025-03-31]	116.2 M	124.7 M
	Offered $750,000,000 · Filed 2026-02-10 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $5,000,000 · Remaining $633,848,000 · Duration More than one year · Commission $208,649 · Revenue Decline to Disclose
HF	Waterfall Private Asset-Backed Credit Master Fund I LP	[2025-03-31]	116.2 M	7.2 M
	Offered $750,000,000 · Filed 2026-02-10 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $5,000,000 · Remaining $633,848,000 · Duration More than one year · Commission $208,649 · Revenue Decline to Disclose
HF	Waterfall Augusta Fund LP	2024-11-05		98.8 M
HF	Waterfall Big Falls Opportunity Fund I LP - Series B	[2024-11-05]	100.2 M	103.1 M
	Offered $300,000,000 · Filed 2023-12-26 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $5,000,000 · Remaining $199,750,000 · Duration One year or less · Revenue Decline to Disclose
HF	Waterfall LaSalle Fund LLC - Series B	[2024-11-05]	105.5 M	35.4 M
	Filed 2026-03-09 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $1,000,000 · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose
HF	Waterfall LaSalle Fund LLC - Series A	[2024-05-10]	105.5 M	79.9 M
	Filed 2026-03-09 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $1,000,000 · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose
HF	Lake Cascade Fund LP	2024-03-28		1.9 B
HF	LMAP 904 Limited	2024-03-28		55.4 M
HF	Waterfall Silver Spring Fund LP	[2024-03-28]	200.2 M	119.9 M
	Filed 2025-07-09 (D/A) · Exemption 506(b), 3(c), 3(c)(7) · Minimum $100,000,000 · Remaining Indefinite · Duration More than one year · Revenue Decline to Disclose
View All

AUM Breakdown	Accounts	AUM ($B)
By Client Type
(a) Individuals (other than high net worth individuals)	0	0.0
(b) Individuals (high net worth individuals)	0	0.0
(c) Banking or thrift institutions	0	0.0
(d) Investment companies	3	8.2
(e) Business development companies	0	0.0
(f) Pooled investment vehicles	50	12.1
(g) Pension and profit sharing plans	0	0.0
(h) Charitable organizations	0	0.0
(i) State or municipal government entities	0	0.1
(j) Other investment advisers	0	0.0
(k) Insurance companies	11	1.6
(l) Sovereign wealth funds and foreign official institutions	0	0.0
(m) Corporations or other businesses not listed above	0	0.0
(n) Other	0	0.0
Total	68	22.0
By Discretionary
Discretionary	68	22.0
Non-Discretionary	0	0.0
Total	68	22.0
By Non-United States Persons
Non-United States Persons		6.4
United States Persons		15.6
Total	68	22.0

Form D Directors	Role	# Filings	# Firms
Sean Flynn	Director	165	41
Patrick Harrigan	Director	135	40
Alan Tooker	Director	131	18
Damian Juric	Director	53	14
Ramona Bowry	Director	31	10
Philip Sivin	Director	11	5
Bobby Liu	Executive Officer	19	4
Jack Ross	Executive Officer	44	2
Waterfall Asset Management LLC	Executive Officer, Promoter	42	2
Kenneth Nick	Executive Officer	35	2
Thomas Capasse	Executive Officer	31	2
Tom Capasse	Executive Officer	16	2
Tom Buttacavoli	Executive Officer	15	2
Gene Weil	Executive Officer	10	2
John Nelligan	Executive Officer	10	2
Alain Toto	Executive Officer	7	2
Waterfall Sentinel GP LLC	Promoter	6	2
Waterfall Management LLC	Promoter	3	2
Waterfall Atlas GP LLC	Promoter	3	2
Waterfall Dislocation Opportunity II GP LLC	Promoter	2	2
Waterfall Dislocation Opportunity GP LLC	Promoter	2	2
Waterfall Affordable Housing Credit I GP LLC	Promoter	1	1
Waterfall Eagle GP LLC	Promoter	1	1
Waterfall LaSalle Manager LLC	Promoter	1	1
Waterfall Sandstone GP LLC	Executive Officer	1	1
Brian Rebello	Executive Officer	1	1
Waterfall Structured Credit Dislocation GP LLC	Executive Officer	1	1
Waterfall Residential Credit Opportunity GP LLC	Promoter	1	1
Keerthi Raghavan	Executive Officer	1	1
Waterfall Osprey GP LLC	Promoter	1	1
Waterfall Silver Spring GP LLC	Promoter	1	1

EDGAR Form	CIK	2011 - 2026
13F-HR	[0001570717]
3	[0001570717]
4	[0001570717]
SC 13D	[0001570717]
SC 13G	[0001570717]

Form 13D/13G Filer	Form 13D/13G Subject	Filed
Waterfall Asset Management LLC	Sutherland Asset Management Corp	[2016-11-10]
Waterfall Asset Management LLC	FlexShopper Inc	[2015-03-16]
Waterfall Asset Management LLC	Jacksonville Bancorp Inc /FL/	[2013-02-28]

Firm Profile (Form ADV)
Discretionary AUM	$2.1B
Serves	Institutional
Fund Types	Hedge Fund, Private Equity, Real Estate
LEI	549300RACQV01C68DB49

Form 3/4/5 Subject	2011 - 2026
Waterfall Asset Management LLC
Ready Capital Corp
FlexShopper Inc

Insider Transaction (Form 3/4/5)	Date	Action	Shares	Price	Value ($)
Ready Capital Corp RC Common Stock	2021-11-08	Grant	84,758
Ready Capital Corp RC Common Stock	2020-08-06	Grant	208,690
Ready Capital Corp RC Common Stock	2020-04-09	Grant	4,154
Ready Capital Corp RC Common Stock	2019-03-13	Grant	14,939
Ready Capital Corp RC Common Stock	2019-03-05	Other	27,198
Ready Capital Corp SLD Common Stock	2018-08-10	Grant	8,123
FlexShopper Inc FPAY Warrant to Purchase Common Stock · derivative	2018-05-23	Option exercise	3	$0.00
FlexShopper Inc FPAY Common Stock	2018-05-23	Option exercise	175,000	$0.01	1,750
Ready Capital Corp SLD Common Stock	2018-05-16	Grant	13,274
FlexShopper Inc FPAY Warrant to Purchase Common Stock · derivative	2018-04-03	Buy	3

Comparable Firms	State	AUM
Makena Capital Management LLC ✚	CA	24.3 B
Commonfund OCIO Inc ✚	CT	22.7 B
Prime Finance Advisor LP ✚	CA	22.2 B
Rialto Capital Management LLC ✚	FL	21.7 B
MSD Partners LP ✚	NY	21.3 B
Knighthead Capital Management LLC ✚	NY	19.0 B
Fidelity Diversifying Solutions LLC ✚	MA	18.9 B
PGIM Luxembourg Sa ✚		18.6 B
ACORE Capital LP ✚	NY	18.3 B
Siguler Guff Advisers LLC ✚	NY	18.3 B

Waterfall Asset Management LLC

Assets, Funds, Holdings