Keerthi Raghavan Steps Up as Co-Chief Investment Officer at Waterfall Asset Management

Waterfall Asset Management Appoints Keerthi Raghavan as Co-Chief Investment Officer

On March 27, 2025, Waterfall Asset Management LLC declared a pivotal addition to its leadership by announcing the appointment of Keerthi Raghavan as Co-Chief Investment Officer (Co-CIO). This strategic move brings Raghavan into a role where he will collaborate with existing Co-CIO Brian Rebello to steer all investment activities at the firm.

A Proven Leader
Since joining Waterfall in 2014, Raghavan has established himself as an indispensable asset to the firm. Jack Ross, the Founder and Managing Partner at Waterfall, acknowledged Raghavan's contributions affirming, "His leadership is evident across all facets of the firm, from delivering an exceptional investing experience to clients to contributing and executing the firm's strategy." Raghavan’s expertise particularly shines through as he leads the firm's Asset-Backed Securities (ABS) strategy and plays a critical role on the Investment Committee.

The Transition
Raghavan's elevation to Co-CIO position comes in tandem with the resignation of current Co-CIO Patrick Lo, who is leaving after a commendable 19 years with the firm. In a statement reflecting on Lo's contributions, Thomas Capasse, another Founder and Managing Partner, expressed gratitude and well-wishes for his future pursuits. “Patrick made important contributions to Waterfall during his long tenure with the firm, which are all deeply appreciated... we wish him continued successes in his future endeavors,” said Capasse.

An Impressive Background
Keerthi Raghavan's background is impressive; prior to his tenure at Waterfall, he was the Director of CMBS Credit Trading and Head of CMBS Research at Barclays Capital. He holds an MBA from the Indian Institute of Management and a Bachelor of Science degree from the Indian Institute of Technology, boasting over 16 years of experience in finance and investment. His knowledge of the asset management landscape positions him well for this expanded role.

Brian Rebello will work alongside Raghavan in this dual leadership capacity, marking a new era for Waterfall. Rebello himself is an accomplished professional with over 25 years of industry experience. His professional path includes a tenure as a portfolio manager at Aberdeen Asset Management and previous positions at Deutsche Asset Management. Rebello also carries an MBA from Miami University and a Bachelor’s in Chemical Engineering from the National Institute of Technology in India, along with a CFA designation.

About Waterfall Asset Management
Waterfall Asset Management has carved out its niche as an alternative investment manager focused on specialty finance opportunities. Established in 2005, the firm has increasingly specialized in asset-backed credit, whole loans, and real assets while leveraging a relative value approach. With over $12.5 billion in assets under its management as of December 31, 2024, Waterfall operates in over 60 sectors within the asset-based finance arena. Additionally, Waterfall is known for being the external manager for Ready Capital Corporation, a prominent player in real estate finance and small business lending, and operates out of its headquarters in New York City, with branches in London and Dublin.

In conclusion, with Raghavan's new role, Waterfall Asset Management aims to enhance its position in the market, continuing to provide valuable and tailored investment solutions across various asset-backed finance markets, while honoring the substantial contributions of its departing colleague, Patrick Lo. To discover more about Waterfall's unique investment strategies and services, visit their official website.