Hildene Capital Management LLC, a $12 billion credit-focused asset manager, has entered into a strategic relationship with CrossCountry Mortgage LLC, a retail residential mortgage originator in the U.S., and CrossCountry Capital LLC, a company focused on housing-related principal investments.

CCM has closed over $50 billion of transactions in 2021. Through this relationship, Hildene will gain access to certain non-qualified mortgage originations from the CCM platform, while CCC representatives will invest in an account managed by Hildene. It also provides Hildene with access to non-qualified mortgage loans, and the ability to work together to securitize non-qualified mortgage loans on a programmatic basis.

“We are excited to partner with the company at a time of significant growth and increased market dislocation, which will allow Hildene the ability to generate sound credit investments at historically high-interest rates,” says Brett Jefferson, founder and co-chief investment officer of Hildene.