Mayer Brown represented Redwood Trust, Inc., (Redwood) a leader in expanding access to housing for homebuyers and renters, in a $750 million strategic capital partnership with Canada Pension Plan Investment Board (CPP Investments) through subsidiaries of CPPIB Credit Investments Inc.
The partnership consists of a newly formed $500 million asset joint venture and a $250 million corporate secured financing facility that CPP Investments is providing to Redwood. The joint venture will initially invest across the broad suite of Redwood’s residential investor bridge and term loans, targeting more than $4 billion in total acquisitions. Redwood and its subsidiaries will administer the assets on behalf of the joint venture. Together, CPP Investments and Redwood will contribute up to $500 million of equity to the joint venture.
The team was led by Financial Services M&A partner Lauren Pryor (Washington DC & New York) and included: Tax partner Jeffrey Cantrell (Charlotte); Banking & Finance partner Jennifer Hartnett; Financial Services M&A counsel Michael Serafini (both Chicago); and Corporate & Securities associate Girindra Selleck (New York).
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