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TIG Advisors buys minority stake in Romspen

TIG Advisors acquired a minority interest in Romspen Investment Corp., a credit manager focused on North American real estate, a TIG spokeswoman said. Terms of the deal were not disclosed.

TIG will offer Romspen sales and marketing, and business development support within the U.S. and internationally. This will help Romspen focus on its core competency, said a news release announcing the deal.

Mark Hilson and Wes Roitman will continue to lead Romspen's current management team.

"Romspen is a leader in mortgage investing with a longstanding history, disciplined approach to underwriting, and diversified lending platform that complements TIG's existing strategies," said Spiros Maliagros, president of TIG, in the news release. "We look forward to helping the firm achieve its full potential."

Said Mr. Hilson in the release: "We are pleased to partner with TIG, whose expertise in alternative asset management and strong understanding of our lending strategy will be crucial in helping us reach our operational and investment goals."

TIG Advisors has $3 billion in assets, while Romspen has C$2.5 billion ($1.9 billion) in AUM.