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  "documentTitle": "Ready Capital | Investor Presentation Deck | 44 slides",
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  "authorName": "Ready Capital",
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  "presentationDate": "2024-01-01 00:00:00",
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      "text": "WATERFALL ASSETS UNDER MANAGEMENT BY STRATEGY1\nPrivate Equity 2%\nLoans 19%\n$12.6bn AUM2\nReady Capital 21%\nAsset-Backed Securities 58%",
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      "text": "WATERFALL Asset Management",
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      "kind": "list",
      "text": "SEC-registered credit investment advisor founded in 2005\nTop global manager with focus on real estate loans & ABS\nPrincipals were early pioneers of the ABS industry\nCo-founders (Tom Capasse and Jack Ross) started Merrill Lynch ABS business in 1980s and worked together for 20 years\nReady Capital has the right of first refusal on all LMM CRE loans sourced by Waterfall3",
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      "text": "70+ Investment professionals",
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      "text": "$12.6bn² AUM",
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      "text": "18 year Investment record",
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      "kind": "metric",
      "text": "60+ years Leadership team combined experience",
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      "kind": "source-note",
      "text": "Note: 1 Represents internal company breakdown; 2 Includes unfunded committed capital; AUM attributable to Ready Capital based on Ready Capital's total stockholders' equity as of September 30, 2023; 3 Waterfall has agreed in the side letter agreement that, for so long as the management agreement is in effect, neither it nor any of its affiliates will (i) sponsor or manage any additional investment vehicle where the Company does not participate as an investor whose primary investment strategy will involve SBC mortgage loans, unless Waterfall obtains the prior approval of a majority of the Company's board of directors (including a majority of its independent directors), or (ii) acquire a portfolio of assets, a majority of which (by value or UPB) are SBC mortgage loans on behalf of another investment vehicle (other than acquisitions of SBC ABS), unless the Company is first offered the investment opportunity and a majority of its board of directors (including a majority of its independent directors) decide not to acquire such assets.",
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      "slug": "11-golden-circle",
      "bestFor": "Visionary leadership, brand positioning, mission statements",
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      "evidence": "The deck uses a golden circle structure to present the company's why, how, and what.",
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      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
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