Profile

Mission Statement

Basalt retains a mission of creating investment vehicles that will allow investors unparalleled access to specific, diversified risk within the commercial real estate capital structure.

Basalt seeks to deliver consistent, higher risk-adjusted returns while directly influencing those results.  We apply wisdom which is aquired from our unique experience, extensive research and proprietary technology.

Focusing Unique Expertise

Basalt has developed an excellent track record and reputation for insightful, conservative underwriting and investing in high yielding commercial mortgage backed securities and related debt. Senior management's experience dates back to 1993, providing unique perspective into the structural evolution of CMBS.

Capital Preservation

Basalt has their foremost focus on capital preservation.

Risk Management

Basalt intends to differentiate itself by utilizing disciplined risk management and fully embracing the power of research with thoughtfully applied analysis to compliment fundamental underwriting.

Human Capital

Basalt has extraordinary human capital from the commercial real estate finance industry with a history of insightful vision and leadership.

Extensive Network

Basalt has created a broad network to access assets, research and other unique resources. These include relationships with every major issuer of real estate debt securities augmented by on-going dialogue with a vast number of smaller, regional players that tend to find investment opportunities that are often priced and sold on an off-market basis for various reasons.

Growth

Basalt intends to capitalize on available talents currently available and will continue to expand first tier expertise as necessary.  Basalt’s is organized and staffed to support near-term objectives including operating the investment fund planned in 2008.

The story Behind Our Name

Basalt Capital’s name was inspired by a quaint mountain community located near Aspen Colorado at the confluence of two Gold medal trout streams, the Fryingpan and the Roaring Fork Rivers.

Basalt is a common volcanic rock rich in magnesium and iron used to fortify concrete. Basalt has also formed on Earth's Moon, Mars, and Venus.  The dark areas visible on our moon are plains of flooded basaltic lava.

http://www.merriam-webster.com/cgi-bin/audio.pl?basalt02.wav=basalt 

Bios

Frederick L. Fellows
Managing Principal

Fred Fellows has spent the last 20 years in commercial real estate, primarily within the capital markets and structured finance.  Fellows draws upon broad relationships developed from executive positions at CB Richard Ellis, Nomura Securities, Cargan Capital, and Southwest Securities. Over the previous seven years alone, Fellows has participated in substantial investment and trading activity, focused on various liquidity impaired assets including ABS, CMBS and related debt; mezzanine, b-notes, rakes, preferred equity, CDO’s and re-Remic’s.  His track record is extraordinary with a focus on capital preservation, which has proven to generate consistent high, risk-adjusted returns.  Fellows has a deep understanding of collateral underwriting, cash flow mechanics, structural mechanics, and marketplace pricing conditions for assets and related liabilities.  Opportunistic transactions were based on comprehensive underwriting and, quite often, rare insights. 

Much of his success comes directly from a unique access to assets.  Relationships include and extend well beyond first tier, large institutions and include various size insurance companies, finance companies, commercial and regional banks, money managers, hedge funds, asset management firms, primary broker dealers, regional broker dealers, specialty finance companies, mortgage brokers, and many of their related service providers.

Fellows managed the placement of nearly $20 billion of new issue CMBS while at Nomura Securities Int’l.  Fellows founded Cargan Capital in 1999 and promptly received sponsorship for his first fund focused on BB CMBS, a successful endeavor.  Fellows joined SWS in 2001 where he developed a niche, high yield trading desk focused on off-the-run liquidity impaired CMBS and ABS. 

Note:  Personal investments range includes SPACs, ethanol plants, real estate equity and mezzanine debt, first loss CMBS, IO’s, and various residential real estate projects. Structural insight and a unique experience with the following: FASIT, public subordinate bonds, pooled ABS leases, NERDS, Re-REMIC collapse, IO’s, servicer redirection, whole loan sales, synthetic and index securities, ethanol construction finance and equity raise. Fellows has written extensive proprietary code for pricing and trading of securities.

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