Bank welcomes Fund Finance industry veterans Jeff Johnston and Mike Mascia to lead business

JACKSONVILLE, Fla., Aug. 8, 2023 /PRNewswire/ — Expanding its commercial banking operations to provide bespoke and customized fund-level financing to alternative asset managers and the private capital industry, EverBank (temporarily doing business as TIAA Bank) today announced the launch of its new Fund Finance division under the leadership of industry veterans Jeff Johnston and Mike Mascia.

EverBank, N.A., Announces New Fund Finance Division and Leaders; Bank welcomes Fund Finance industry veterans

The new group is based in Charlotte, N.C., and will focus on supporting alternative asset managers and the private capital community’s fund-level financing needs, including subscription credit facilities, NAV financing, hybrid facilities, management company lines and other customized credit, advisory and placement solutions. Mascia and Johnston will serve as co-leaders of the Fund Finance division.

The start of the Fund Finance business marks the first expansion milestone for EverBank. On August 1, TIAA announced the completion of the sale of TIAA Bank to private investors with extensive experience in financial services. The bank is temporarily going to market under the legacy TIAA Bank brand until early September, when it will fully convert to the new EverBank brand.

“We’re focused on growth, innovation and supporting our private capital clients in this new chapter and building a fund finance vertical led by sought-after experts Jeff Johnston and Mike Mascia to support our long-term strategy,” said Greg Seibly, EverBank’s chief executive officer. “The addition of these successful leaders is exciting for the bank and reflects of our commitment to the greater private capital community.”

Johnston, the division’s co-leader, is widely regarded as one of the world’s leading fund finance experts. He previously founded and led Wells Fargo’s fund finance business and grew it into the…