Mount Street’s US Business now Exceeds $25 billion AUM
Mount Street Group (‘Mount Street’), the leading global third-party loan servicing and credit asset management firm, announces its US operations team has exceeded $25 billion of assets under management across its two main business lines: primary servicing of complex, balance-sheet loans and special servicing on CMBS deals. Both business units have seen significant growth this year, doubling AUM since January, with the US market representing a growing proportion of Mount Street’s $126 billion of assets under management globally.
Mount Street entered the US market to service local client needs in 2017, boarding its first loan in April 2018. Since then, the business has rapidly expanded and grown its offering, moving beyond commercial real estate to serve as agent and servicer on [multi-sector] corporate loans. Services include assisting clients with underwriting and other credit needs and working out both securitized and non-securitized CRE loans. Over the past five years, Mount Street has been rated or ranked by all major rating agencies for both primary and special CRE servicing, including CPS2-/CSS3 from Fitch as well as being on the S&P Select Servicer list for both primary and special servicing.
The primary side of the business continues its focus on bespoke services to banks and funds, growing to over $22 billion of AUM. For special servicing, Mount Street transferred the first CMBS portfolio in August 2021, and is currently named special servicer on seven deals valued at over $4 billion, with transfers and new issuance on conduit and SASB deals.
CEO and founding partner, Paul Lloyd said “This milestone highlights the strength of Mount Street’s global platform, as well as the quality of work by our US team over the past five years. The exponential growth that we have witnessed in the US market in the past year alone is testament to Mount Street Group’s deep asset-level expertise and dedication to exceptional client service.” Greg Chastain, Senior Director at Mount Street Group commented, “Over the last year, we’ve diversified our client base, which now includes several billion dollars and includes relationships with large banks and funds, as well as mid-sized debt funds, and some start-ups. We work to set the right scope to match the client, using our solid processes and technology, and excellent staff, to deliver quality, responsive service