ABOUT US
Susquehanna Structured Capital (“SSC”) makes debt and structured equity investments in middle and lower-middle market companies and commercial/multifamily real estate.
We are a member of the Susquehanna International Group of Companies (“SIG”), one of the world’s largest privately-held financial services firms. Founded in 1987, SIG has grown to over 2,000 employees across the globe, with offices in Philadelphia, New York, Dublin, Sydney, Beijing, and Hong Kong. SSC’s team of investment professionals have extensive and diverse experience in corporate and real estate credit and private equity.
INVESTMENT CRITERIA
Corporate Debt
SSC provides capital to companies ranging from early stage to middle market firms who want to grow and build their brand without substantial dilution. SSC is not constrained by a required EBITDA or net sales number. Nor are we constrained to asset-backed lending. Unlike traditional debt financing, we don’t require covenants and work with our counterparty to maximize growth potential.
- Sector Neutral: Current investments include healthcare, technology
- Investment Amount: $4MM to $20MM+
- Term: 2 to 4 years
- Pricing: LIBOR + 10% – 14%
- Accrual: Partial cash payment acceptable
- Prepayment: Typically open with minimum multiple
- Warrants: Nominal
Commercial/Multifamily Real Estate
SSC provides subordinate debt and debt-like preferred equity for developments and transitional properties in primary and secondary markets. Sponsors must have significant experience in executing similar business plans.
- Property Types: Multifamily, hotel, office, retail, mixed-use, specialty considered
- Investment Amount: $4MM to $20MM+
- Term: 1 to 5 years including extensions
- Leverage: Up to 85%
- Pricing: LIBOR + 8% – 13%, Fixed 10% – 15%
- Accrual: Partial cash payment acceptable
- Amortization: Interest only
- Minimum DSCR: No requirement
- Prepayment: Open with minimum interest payments
- Future Advances: Lease-up costs, capital expenditures
- Recourse: Typically non-recourse with standard carve-outs, completion guaranty as required
INVESTMENT CRITERIA
Corporate Debt
SSC provides capital to companies ranging from early stage to middle market firms who want to grow and build their brand without substantial dilution. SSC is not constrained by a required EBITDA or net sales number. Nor are we constrained to asset-backed lending. Unlike traditional debt financing, we don’t require covenants and work with our counterparty to maximize growth potential.
- Sector Neutral: Current investments include healthcare, technology
- Investment Amount: $4MM to $20MM+
- Term: 2 to 4 years
- Pricing: LIBOR + 10% – 14%
- Accrual: Partial cash payment acceptable
- Prepayment: Typically open with minimum multiple
- Warrants: Nominal
Commercial/Multifamily Real Estate
SSC provides subordinate debt and debt-like preferred equity for developments and transitional properties in primary and secondary markets. Sponsors must have significant experience in executing similar business plans.
- Property Types: Multifamily, hotel, office, retail, mixed-use, specialty considered
- Investment Amount: $4MM to $20MM+
- Term: 1 to 5 years including extensions
- Leverage: Up to 85%
- Pricing: LIBOR + 8% – 13%, Fixed 10% – 15%
- Accrual: Partial cash payment acceptable
- Amortization: Interest only
- Minimum DSCR: No requirement
- Prepayment: Open with minimum interest payments
- Future Advances: Lease-up costs, capital expenditures
- Recourse: Typically non-recourse with standard carve-outs, completion guaranty as required
TEAM
Brian Morris
Managing Director
Brian’s primary focus is on originating, structuring and underwriting commercial and multifamily real estate transactions.
He has more than 20 years of real estate and financial services experience, closing transactions across all parts of the capital stack. Prior to SSC, he was a Principal at Linden Lane Structured Capital, a private equity platform specializing in mezzanine and preferred equity investments in commercial and multifamily real estate. Brian was also a Principal at Argosy Real Estate, with responsibility for the firm’s asset management and underwriting. Prior to Argosy, he was a Managing Director at LEM Mezzanine, originating subordinate and bridge loan financing, and a Director in GE Real Estate’s Strategic Capital Group. Brian started his real estate career at Bear Stearns in its Commercial Mortgage Conduit. He received an M.B.A from Georgetown University and a B.S. in Industrial Engineering from Rensselaer Polytechnic Institute.
Brian Morris
Managing Director
Brian’s primary focus is on originating, structuring and underwriting commercial and multifamily real estate transactions.
He has more than 20 years of real estate and financial services experience, closing transactions across all parts of the capital stack. Prior to SSC, he was a Principal at Linden Lane Structured Capital, a private equity platform specializing in mezzanine and preferred equity investments in commercial and multifamily real estate. Brian was also a Principal at Argosy Real Estate, with responsibility for the firm’s asset management and underwriting. Prior to Argosy, he was a Managing Director at LEM Mezzanine, originating subordinate and bridge loan financing, and a Director in GE Real Estate’s Strategic Capital Group. Brian started his real estate career at Bear Stearns in its Commercial Mortgage Conduit. He received an M.B.A from Georgetown University and a B.S. in Industrial Engineering from Rensselaer Polytechnic Institute.
Brian Morris
Managing Director
Heather Ali
Chief Counsel
Heather manages the legal activities of Susquehanna Structured Capital and is responsible for structuring and negotiating transactions as well as general post-closing legal matters.
Heather has been with the Susquehanna International Group of companies since 2005 and provides legal support to many of the firm’s business lines. Prior to joining Susquehanna International Group, Heather was on the corporate and securities team at Dechert LLP in Philadelphia and London, working on a range of mergers, acquisitions, public and private securities offerings, financing transactions and general corporate matters. Heather received her J.D. from Penn State’s Dickinson School of Law and a B.S. from Penn State University.
Heather Ali
Chief Counsel
Heather manages the legal activities of Susquehanna Structured Capital and is responsible for structuring and negotiating transactions as well as general post-closing legal matters.
Heather has been with the Susquehanna International Group of companies since 2005 and provides legal support to many of the firm’s business lines. Prior to joining Susquehanna International Group, Heather was on the corporate and securities team at Dechert LLP in Philadelphia and London, working on a range of mergers, acquisitions, public and private securities offerings, financing transactions and general corporate matters. Heather received her J.D. from Penn State’s Dickinson School of Law and a B.S. from Penn State University.
Heather Ali
Chief Counsel
Eric Seo
Counsel/Transaction Management
Eric assists with managing the legal activities of Susquehanna Structured Capital. His primary focus is negotiation, execution and management of investments, legal due diligence and general corporate matters.
Prior to joining SSC, Eric was a corporate and securities attorney with Dechert LLP and provided advice to public and private companies on a variety of matters, including financing transactions, acquisitions and dispositions. He received a J.D. from Vanderbilt University Law School and a B.A. in Economics and Philosophy from Emory University.
Eric Seo
Counsel/Transaction Management
Eric assists with managing the legal activities of Susquehanna Structured Capital. His primary focus is negotiation, execution and management of investments, legal due diligence and general corporate matters.
Prior to joining SSC, Eric was a corporate and securities attorney with Dechert LLP and provided advice to public and private companies on a variety of matters, including financing transactions, acquisitions and dispositions. He received a J.D. from Vanderbilt University Law School and a B.A. in Economics and Philosophy from Emory University.
Eric Seo
Counsel
Transaction Management
Vir Anand, CFA
Senior Associate
Vir assists with structuring and underwriting corporate and real estate transactions. Prior to SSC, he was an analyst at Susquehanna International Group within the Fixed Income group.
Prior to SIG, Vir was an analyst at Bank of America Merrill Lynch within the Equity Derivatives group. Vir graduated from Carnegie Mellon University with a B.S. in Computational Mathematical Finance and a B.S. in Economics and Statistics, with University Honors.
Vir Anand, CFA
Senior Associate
Vir assists with structuring and underwriting corporate and real estate transactions. Prior to SSC, he was an analyst at Susquehanna International Group within the Fixed Income group.
Prior to SIG, Vir was an analyst at Bank of America Merrill Lynch within the Equity Derivatives group. Vir graduated from Carnegie Mellon University with a B.S. in Computational Mathematical Finance and a B.S. in Economics and Statistics, with University Honors.
Vir Anand, CFA
Senior Associate