New
York
City-based

Saluda
Grade,
an
alternative
investment
firm
with
a
concentration
in
asset-based
finance,
announced
Thursday
that
Patrick
Lo
is
joining
the
company
as
its
co-chief
investment
officer.

Lo
has
more
than
20
years
of
experience
in
alternative
credit
and
asset-based
investing.
He
will
work
with
Timothy
Carr
in
the
newly
created
co-CIO
role
to
oversee

Saluda
Grade‘s
investment
process
and
lead
its
expansion
into
a
larger
set
of
financing
capabilities
beyond
its
current
focus
in
residential
and
commercial
real
estate.

Lo
comes
to
Saluda
Grade
after
a
stint
as
co-CIO
at


Waterfall
Asset
Management,
where
he
served
in
a
key
role
to
build
and
scale
diversified
asset-based
finance
(ABF)
investment
strategies.

“Expanding
our
ABF
platform
beyond
residential
and
commercial
real
estate
is
a
natural
and
important
next
step
for
Saluda
Grade,”

Ryan
Craft,
the
company’s
founder
and
CEO,
said
in
a
statement.
“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,”
Lo
said.

Saluda
Grade
was
founded
in
2019
and
reportedly
has
$4.4
billion
in
assets
under
management
as
of
Jan.
1,
2026.
It
provides
industry
knowledge
and
experience
across
structured
credit,
specialty
finance,

mortgage-backed
securities
and
growth
equity
investments.