ABL Hedge Fund Hires General Counsel

Dec 18 2007 | 12:56am ET

Madison Realty Capital, an asset-based lending hedge fund, has named Eric Scheffler as managing director and general counsel. Scheffler will manage the firm’s corporate legal strategy and assist in overseeing Madison’s loan portfolio.
In addition to performing his duties as general counsel, Mr. Scheffler’s responsibilities will include structuring and closing loans, asset management and managing the relationships of Madison’s counterparties and borrowers.

Scheffler spent more than two years with Bear Stearns as associate director in the closing and structuring group within Bear Stearns Commercial Mortgage. While at BSC, he worked with originators, underwriters, capital markets and securitization counsel to structure, close and securitize fixed and floating rate conduit loans for national commercial properties. 

“Eric’s appointment underscores Madison’s commitment to building an institutionally-based business and infrastructure, and helps to solidify our position as a leading lender of short-term bridge loans targeted to commercial real estate companies,” said co-founder Josh Zegen. 

New York-based MRC provides short-term loans secured by a variety of commercial real estate. The firm has financed approximately $600 million in real estate loans since its inception in 2005.

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