Cohen was also recently appointed chairman of the board by the firm's board of managers. "This capital raise increases the capital availability that we have, which is really critical in a time where the opportunity to provide debt…to the market places is really attractive," he says.
Wrightwood has completed four capital raises, including in June 2004, February 2005 and August 2006, Cohen says. "We typically raise incremental capital every year, just to fund our continued growth," he says. The firm has a total of $300 million in equity capital and $2 billion in assets on its balance sheet, he says. "I think it is pretty interesting in this type of stress for any type of financial companies, that we were able to raise this money," Cohen says.
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