BenAlon Capital, LLC

BenAlon Capital, LLC
1350 Avenue of the Americas
2nd Floor
New York , NY 10019

BenAlon Capital Management, LLC is a US based alternative asset fund manager specializing in investing in distressed and impaired loans. Its primary focus is on the financial services industry where it takes advantage of the dislocations that prevail in the financial services industry. We utilize our expertise in restructuring, distressed investing, regulatory and accounting aspects of the business to provide a structured investment and financing approach. It is the talent and experience of our people and investment professionals that positions us to adapt our investment approach to the new market environment and investment opportunities. Our investment emphasis is on flexibility and creativity with a strong value orientation.

BAC Distressed Mortgage Partners, LP (“BAC”) was formed to take advantage of the disarray in the residential mortgage market in the US. Its strategy is to acquire either directly or through highly structured solutions distressed Real Estate backed loans, none performing loans and REO’s. Its investment approach is based and on traditional back to basics credit and workout strategy.

Using Held to Maturity accounting rules, many banks have avoided taking the full write-downs on their distressed, NPL’s and REO portfolios. Impaired assets remain on Bank balance sheets, constraining growth, inhibiting lending and compressing share prices. Using our expertise, BAC is able to design and execute transactions that provide investors with superior returns and maximize the benefits to the Bank’s from the disposition of impaired assets. These highly customized transactions enable the selling Banks to achieve true sale treatment at prices at or near book value and improve regulatory and accounting capital ratios which result in improved market and shareholder perception. BAC structures its transactions to achieve targeted returns to its investors of between 20% to 30% net of fees and carry. BAC has a strong team of corporate finance, loan traders and asset management professionals that understand the breadth of issues required to execute these highly complex and very profitable transactions.

BAC employs an investment strategy that differs from competitors seeking similar distressed loans due to the following factors:

Structured Sales:	BAC designs and executes customized structured sales of NPA’s at higher prices than are available in the cash market, substantially reduce the Bank’s impaired assets, improve regulatory and accounting ratios, and increase NIM. The result is that we enable the selling banks to sell NPA’s without significantly impairing their regulatory capital position and enable our investors to attractive returns.
Whole Loans:	BAC invests primarily in Whole Loans. Owning whole loans affords a greater level of transparency to the note holder and direct access to the underlying collateral.
Specialized Servicing:	BAC has strategic partnerships with an experienced national, Servicers and maintains full decision making control over each asset. The Company tailors its servicing agreements to align its interests with those of the servicer.
National Portfolio:	By focusing on a well diversified national portfolio, BAC reduces its risk to local market, variability and specific state legislation.