IPOs are the first time a privately owned company offers its shares for sale to the general public, turning ownership stakes into tradable stock. For investors, an IPO is a chance to buy into a company early, but it also often brings greater price swings and uncertainty as the market decides what the business is worth — similar to watching a new product launch determine future demand and value.
mortgage reitfinancial
A mortgage REIT is a company that pools money from investors to buy mortgages or mortgage-backed securities and funds those purchases by borrowing or issuing shares; it earns profit from the difference between what it collects on loans and what it pays to borrow. Think of it like a specialized lending business that pays out most of its earnings as dividends, so investors get regular income but also face higher sensitivity to interest rates, credit problems, and changes in the housing market.
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Steven Loffman Joins as a Managing Director in New York
NEW YORK--(BUSINESS WIRE)--
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Steven Loffman has joined as a Managing Director in its Capital Solutions Group. Mr. Loffman will be based in New York and will lead the U.S. Real Estate Capital Advisory practice for the firm. This announcement follows the firm’s recent addition of Mellum Capital, a European based real estate capital advisory business bringing the firm’s global real estate capital solutions practice to over 20 professionals.
Mr. Loffman joins the firm following 18 years at Raymond James & Associates, where he most recently served as a Managing Director in its Real Estate Investment Banking Group. During his time with Raymond James, he managed more than 200 transactions, raising over $75 billion across public and private capital markets, served as the lead banker on IPOs across traditional Real Estate, GSA, Mortgage REIT, Timber, and Agriculture sectors, and developed innovative capital solutions and strategic partnerships for public and private real estate companies alike.
“Steven’s deep transaction expertise, creativity in developing capital solutions, and long-standing leadership in the real estate sector make him an outstanding choice to lead our U.S. Real Estate Capital Advisory effort,” said Anthony Martino, Managing Director and Global Co-Head of Houlihan Lokey’s Capital Solutions Group. “As clients navigate an increasingly complex environment, Houlihan Lokey is exceptionally well positioned to provide innovative, impactful solutions that drive meaningful results across the real estate capital solutions landscape.”
“Real estate clients today face an environment that demands sharper insights and more adaptive financing strategies, and Houlihan Lokey is exceptionally well equipped to help them navigate that challenge,” said Mr. Loffman. “I am excited to collaborate with our colleagues across the firm to continue delivering tailored solutions to clients globally.”
Houlihan Lokey’s Capital Solutions Group comprises 200 dedicated professionals across 18 offices in eight countries, including Atlanta, Boston, Chicago, Dallas, Dubai, Frankfurt, Houston, London, Los Angeles, Madrid, Manchester, Miami, Milan, Munich, New York, Paris, San Francisco, and Zurich. In the past 12 months, the group raised and advised on around $39 billion across more than 125 transactions.*
*As of December 31, 2025.
About Houlihan Lokey
Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank recognized for delivering independent strategic and financial advice to corporations, financial sponsors, and governments. With uniquely deep industry expertise, broad international reach, and a partnership approach rooted in trust, the firm provides innovative, integrated solutions across mergers and acquisitions, capital solutions, financial restructuring, and financial and valuation advisory. Our unmatched transaction volumes provide differentiated, data-driven perspectives that help our clients achieve their most critical goals. To learn more about Houlihan Lokey, please visit HL.com.
