Atalaya Risk Management Overview
Structuring Investments: Rediscount Lending
Atalaya generally structures rediscount facilities to offer a meaningful margin of safety as a result of first-
loss junior capital provided by the underlying credit originator.
$100 Small
Business Real
Estate Collateral
Small Business Real Estate Value
$30 Small
Business Equity
Finance Company
Advances $70 of
Collateral Value
Finance Company Loan
Finance Company
Equity ($11)
PRESENTATION TO RHODE ISLAND STATE INVESTMENT COMMISSION | JANUARY 2021
Atalaya Loan $59
of Collateral Value
ATALAYA
Atalaya Rediscount Loan
The above is representative of an existing AIF Fund transaction but is depicted here for illustrative purposes only. Actual transactions in AIF V or other Atalaya managed Funds may not be structured in this manner with respect to
percentage of first-loss junior capital or otherwise. There can be no guarantee or assurance that rediscount lending transactions with first-loss junior capital will be less risky or perform as underwritten.
16View entire presentation