American Financial Resources (AFR) has confirmed that it has entered a definitive agreement to sell 100% of the company to an investment group led by Proprietary Capital. Financial terms of the deal were not disclosed.
Craig Cohen, managing member of Proprietary Capital, said the acquisition will build on the firm’s mortgage platform. The Denver-based fund manager provides a platform for investors to gain exposure in the RMBS market, focusing on mortgage and housing-related assets.
“With the addition of AFR’s robust operational platform, loyal customer base, long-term dedicated employees, and their breadth of products and services, we will catapult our growth for many years to come,” Cohen said.
Source: mpamag.com