Bayview Asset Management has entered into a definitive agreement to sell a minority interest in the company to Blackstone Capital Partners.
Bayview currently manages a $2 billion fund that focuses on the acquisition of whole mortgage loans and mortgage backed securities. It also operates Bayview Loan Servicing, a mortgage servicer which exclusively services Bayview collateral. The transaction is subject to approval from state mortgage regulatory bodies and involves no debt financing. It is expected to close in the fourth quarter.
JPMorgan Securities and Milestone Advisors are acting as financial advisors to Bayview, and Deutsche Bank is serving as financial advisor to Blackstone. Bayview's legal advisors are Clifford Chance, Schulte Roth & Zabel, and Stearns Weaver Miller Weissler Alhadeff & Sitterson. Blackstone's legal counsel is Simpson Thacher & Bartlett.