Toorak Capital Partners Appoints Two Industry Veterans to Board of Directors
Kevin Chavers and Francis Byrne Bring Decades of Mortgage Industry Experience to the Company as it Continues Strong Growth and Plans for Next Securitization
Toorak Capital Partners, Inc. (“Toorak”), a leading capital provider to real estate lenders, announced the appointment of Kevin Chavers and Francis Byrne to the company’s Board of Directors.
“I am thrilled to welcome such experienced mortgage finance executives to the Toorak team as we continue our remarkable growth and look ahead to 2022,” said Toorak CEO John Beacham. “Kevin and Francis bring decades of industry experience, and I am certain Toorak will significantly benefit from their leadership and guidance.”
Mr. Chavers previously spent ten years as Managing Director at BlackRock, serving on the Global Fixed Income Securitized Asset Investment Team, where he assisted in the development and launch of its residential mortgage whole loan investing platform. He was also a Co Leader of the BlackRock Impact Opportunity fund, and member of both the Global Public Policy Group and the Financial Markets Advisory Group. Prior to his tenure at BlackRock, Mr. Chavers was a Managing Director at Morgan Stanley in the Securitized Products Group. He also formerly served as the President of Ginnie Mae in the Clinton Administration. He currently serves as Chairman of the Bedford Stuyvesant Restoration Corporation and on the boards of directors of Enterprise Community Partners, the Upper Manhattan Empowerment Zone, the University of Virginia Foundation, and the Penn Institute for Urban Research. He is a former Partnership for New York City David Rockefeller Fellow. Mr. Chavers received his J.D. from Harvard Law School and received his B.A. in City Planning from the University of Virginia School of Architecture.
“I am excited to join the team at Toorak during such a tremendous growth period for the company,” said Mr. Chavers. “I look forward to advising the company as it helps to solve the current housing shortage through strategic deployment of capital.”
Mr. Byrne is currently a Managing Partner at Fifth Light Capital, LLC, where he provides advisory services to early stage and financial services companies. Prior to his tenure at Fifth Light Capital, he served as Managing Director and Head of Securitization at UBS Securities, LLC, where he led the effort to rebuild the ABS, RMBS and CLO businesses in the U.S. Prior to UBS, Mr. Byrne spent nine years at Deutsche Bank, ultimately rising to Co-Head of the Global Securitized Products Group. He also worked for Credit Suisse for 13 years in various banking, management, and risk management capacities. Mr. Byrne received his MBA from New York University’s Leonard N. Stern School of Business and his B.S. in Finance from Fordham University.
“I look forward to joining the team at Toorak Capital Partners,” said Mr. Byrne. “The team has built an excellent reputation among investors and each of its securitizations has been oversubscribed. I look forward to building upon this legacy and contributing to Toorak’s continued success.”
With capital commitments from entities managed by KKR, a leading global investment firm, Toorak Capital Partners has revolutionized the way business purpose residential real estate lenders access capital. The firm was the first to link small-balance commercial and residential originators with institutional capital and has perfected this approach in the single-family residential bridge and 30-year single family rental lending space.
To learn more about Toorak Capital Partners’ correspondent lending platform, please contact the firm at toorakcapital@toorakcapital.com or 212-393-4100.
About Toorak Capital Partners
Toorak Capital Partners is an integrated correspondent lending platform based in Summit, NJ. Toorak acquires small balance business purpose loans backed by residential, multifamily, and mixed-use properties throughout the U.S. and the U.K. Toorak acquires loans directly from lenders that originate high credit quality loans. Toorak’s principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak-funded projects have renovated, stabilized or provided rental housing for more than 20,000 families to date – an average of more than 500 families every month.
Further information is available at www.toorakcapital.com.
