Saluda Grade Appoints Patrick Lo as Co-Chief Investment Officer to Lead Deeper Expansion into Asset-Based Finance Strategies

Patrick Lo Joins Saluda Grade with Over 20 Years of Experience, Most Recently Served as Co-CIO of Waterfall Asset Management

Lo will Serve Alongside Co-CIO, Timothy Carr, and Oversee the Development and Management of a Broader ABF Investment Strategy

NEW YORK–(BUSINESS WIRE)–Saluda Grade, an alternative investment firm specializing in asset-based finance, announced that Patrick Lo has joined the firm as Co-Chief Investment Officer. In this newly created role, Lo will jointly oversee the firm’s investment process with Timothy Carr. In addition, he will lead the firm’s expansion into a broader range of asset-based finance (“ABF”) capabilities, extending Saluda Grade’s platform beyond its current residential and commercial real estate focus.

Lo brings more than 20 years of experience in alternative credit and asset-based investing. Most recently, he served as Co-CIO of Waterfall Asset Management, where he played a central role in building and scaling diversified ABF investment strategies. At Saluda Grade, Lo will serve alongside Co-CIO Timothy Carr, who will continue to lead the firm’s residential credit investment business.

“Expanding our ABF platform beyond residential and commercial real estate is a natural and important next step for Saluda Grade,” said Ryan Craft, Founder & CEO of Saluda Grade. “Patrick has a strong track record of building institutional investment platforms across multiple sectors. His experience and leadership will help us broaden our reach while maintaining the same disciplined underwriting and structuring approach that has been central to our team and success so far.”

“Saluda Grade has already built an impressive platform, and I am excited to help them become a major player in the ever-growing asset-based finance market,” said Patrick Lo, Co-CIO of Saluda Grade.

The expansion into additional ABF sectors represents an important milestone for Saluda Grade, positioning the firm to offer institutional investors access to a wider range of differentiated private credit opportunities.

About Saluda Grade

Saluda Grade is an alternative investment firm specializing in asset-based credit. Founded in 2019, the firm has $4.4 billion in AUM as of January 1, 2026, and is headquartered in New York City. The firm’s leadership team brings collective experience navigating multiple market cycles and rate environments. The team offers industry knowledge and experience across structured credit, specialty finance, mortgage-backed securities, and growth equity investments. For more information about Saluda Grade, please visit www.saludagrade.com.

Disclaimer: This press release is for informational purposes only and is neither an offer to sell nor the solicitation of an offer to any for any other securities, and shall not constitute an offer, solicitation or sale. All investing entails risk.

Forward-looking statements: Statements in this press release have “forward-looking statements,” and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements.

Contacts

Media Contact:
Kevin Santo
saludagrade@waterandwall.com