Will assume oversight of $22 billion portfolio from retiring Kenneth Hargreaves, who has held post since 1991 in 36-year career with firm SPRINGFIELD, Mass., June 17
SPRINGFIELD, Mass., June 17 /PRNewswire/ -- Babson Capital Management LLC
("Babson Capital"), an investment management firm based in Springfield and
Boston, Mass., and Charlotte, N.C., today announced that Robert Little, CFA,
CRI, will assume leadership of the firm's Real Estate Finance Group (REFG) at
the end of the year.
Mr. Little, 42, who has been with REFG since 1987, will replace the
retiring Kenneth Hargreaves, who has led REFG since 1991 and who has been with
the firm's real estate business since 1972. The REFG portfolio currently
exceeds $22 billion in assets managed and serviced (as of year-end 2007) with
annual investment activity of about $4 billion.
"In Rob's 21 years with the firm, he has demonstrated outstanding ability
as a real estate investor, business builder and leader," said Roger Crandall,
Chairman and Chief Executive Officer of Babson Capital. "His skills and
experience ensure our clients that REFG will continue to seek quality
investment opportunities that provide value over the long term. Our emphasis
remains on building relationships based on integrity, responsiveness and
transparency."
"Ken has been an integral part of Babson Capital for 36 years and an
outstanding leader of our Real Estate Finance Group, combining impressive
skills with grace, wit and humility," added Mr. Crandall. "He also has worked
closely with Rob for two decades, so we expect an exceptionally smooth
transition."
Mr. Little is currently responsible for the origination, structuring and
distribution of high-yield commercial mortgage products, including bridge
lending, mezzanine and preferred equity investments. He also oversees the
firm's role as manager of Babson Mezzanine Realty Investors LP and as co-
manager for two previous mezzanine funds, as well as high-yield real estate
investing for MassMutual's general account and third-party clients. His
previous experience includes the development and oversight of REFG's capital
markets area with responsibility for all commercial mortgage-backed
securities, real estate investment trusts and structured commercial mortgage
transactions, and oversight of the Midwest and Northeast regional offices in
Chicago and Springfield, Mass., respectively.
Mr. Little is a member of the Mortgage Bankers Association, the Hartford
Society of Financial Analysts, and serves on the boards of Wrightwood Capital
LLC and the Springfield YMCA. Rob received a B.A. in Economics from Bates
College in Lewiston, Maine, and was awarded the Chartered Financial Analyst
(CFA) designation, and the Chartered Realty Investor (CRI) designation.
Assuming Mr. Little's responsibilities will be Clayton "Chip" Andrews. Mr.
Andrews joined Babson Capital in March, and has 20 years experience in
commercial real estate and related capital markets, including both debt and
equity transactions. For the past 14 years, he has been Chief Operating
Officer and Partner at Cheslock, Bakker and Associates, an opportunistic
private real estate merchant bank in Stamford, Conn.
About Babson Capital Management
Babson Capital Management LLC and its subsidiaries manage more than $108
billion as of March 31, 2008 for sophisticated investors in the U.S. and
abroad. The firm offers a wide range of absolute return, co-investing,
financing and customized mandates utilizing equity, fixed-income and
derivative instruments. Based in Boston and Springfield, Mass., and Charlotte,
N.C., the firm has six additional offices in the U.S. with subsidiaries in
London and Tokyo. Babson Capital is a member of the MassMutual Financial Group
and is on the web at www.BabsonCapital.com.
About the Real Estate Finance Group
REFG is a full-service real estate capital provider with more than $22
billion in total assets managed and serviced and a staff of more than 100
associates. REFG maintains five regional offices in Chicago, Dallas, Newport
Beach, Calif., Springfield, Mass., and Washington, D.C. Debt products cover
the full spectrum of commercial mortgage origination, including permanent
mortgages, mezzanine and high-yield products, affordable housing, fixed and
floating-rate debt, portfolio lending, acquisition financing, bridge loans,
forward commitments, Canadian financing, construction-permanent lending, and
public market REIT and CMBS debt investments. Babson Capital's REFG is the
sole and exclusive real estate debt advisor for Massachusetts Mutual Life
Insurance Company ("MassMutual"). REFG also manages real estate debt assets
and funds for institutional clients worldwide.
For more information contact:
Ken Gepfert, LGADavid Coburn, LGA
704 552-6565704 552-6565
gepfert@lgapr.com coburn@lgapr.com
SOURCE Babson Capital Management LLC
