Goldman Sachs Acquires House Flipping Lender
October 16, 2017
Goldman Sachs Group Inc. has announced plans to buy Los Angeles-based Genesis Capital LLC, which provides funds for developers seeking to purchase, renovate and flip single-family homes.
Genesis was launched in 2007 and is being acquired from funds managed by Oaktree Capital Management LP. Terms of the acquisition were not disclosed.
"Our new partnership is a validation of the platform we have worked tirelessly to build and the strong relationships we have developed with a loyal customer base," said Robert Wasmund, Co-CEO of Genesis Capital. "We look forward to working with the Goldman Sachs team in our next stage of development."
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