01 Feb Worldfab establishes Equipment Leasing Investment Program with Atalaya Capital Management, L.P.
Chicago, IL. (August 8, 2018) – Worldfab, LLC, announced today that it has established an Equipment Leasing Investment Program with New York based alternative investment advisory firm Atalaya Capital Management LP to fund equipment leases and other transactions originated by Worldfab.
“We are excited to establish this programmatic relationship with Atalaya. Their client-centered business philosophy closely matches our own, and the new Program will allow us to accelerate the growth of our client relationships,” said Bob Ragland, co-founder and Managing Partner of Worldfab. “The partnership with Atalaya allows us to provide equipment financing products to more businesses with expanded funding capabilities. With Atalaya’s support, we will continue to improve our marketing and administrative infrastructure, as well as our equipment management tools, to drive value for businesses, equipment manufacturers, and other stakeholders.”
Worldfab differentiates itself with its focus on asset and equipment quality rather than conventional balance sheet and cash flow credit metrics. This allows the company to monetize equipment value more efficiently and provide flexible solutions for clients not otherwise able to access the capital markets.
“Atalaya values Worldfab’s expertise in the leasing market and is enthusiastic about the possibilities of this new program,” said Rana Mitra, a Managing Director who leads Atalaya’s equipment leasing strategy. “Atalaya has substantial experience investing in equipment finance and collaborating with specialty finance partners and we look forward to helping Worldfab scale its innovative equipment financing solutions to meet an increasing market demand.”
Worldfab began originating its leasing and asset management products in 2015. Its founders, Bob Ragland and Mike Herman, each have over 40 years’ experience in the leasing and structured finance marketplace and collectively have originated and closed over $11 billion in transactions.
Worldfab was introduced to Atalaya by Mr. Steven Wasserman, who serves on Atalaya’s Strategic Advisory Board. Mr. Wasserman is currently the Vice-Chairman of The Roosevelt Investment Group, a privately held boutique advisory firm providing financial planning and investment management service, based out of New York. Mr. Wasserman has over 20 years of experience advising corporations in mergers, acquisitions and financings. He is a portfolio manager in investment management, and a private equity principal in operating businesses.
About Worldfab, LLC
Worldfab provides direct lease funding for an array of new and used equipment. It serves end-user clients, equipment vendors and original equipment manufacturers, and owners/lessors of existing lease portfolios. In addition, Worldfab provides equipment management and client advisory services. Its clients range from early stage to mature stage companies, along with equipment manufacturers and financial stakeholders of these companies. The Company delivers value-added technical capabilities not generally offered by financial counterparties and capital solutions not offered by technology companies. www.worldfab.com
About Atalaya Capital Management LP
Atalaya Capital Management is a privately-held, SEC-registered, alternative investment advisory firm. Atalaya focuses on making credit and special situation investments in three principal asset classes – specialty finance, real estate and corporate. Founded in 2006, Atalaya is headquartered in New York City and has over $3.5 billion in assets under management. www.atalayacap.com
Bob Ragland, Managing Partner, Worldfab LLC 312-401-9797 (Bob.Ragland@Worldfab.com)
Mike Herman, Managing Partner, Worldfab, LLC 619-838-4383 (Mike.Herman@Worldfab.com)
Rana Mitra, Managing Director, Atalaya Capital Management, LP 212-201-1910 (Mitra@Atalayacap.com)