NewMile Capital Completes Private Equity Spin-Out from Waterfall Asset Management

NEW YORK, May 13, 2025 /PRNewswire/ -- NewMile Capital LLC ("NewMile") announced today its launch as an independent, employee-owned investment firm. The NewMile team recently completed their spin-out from Waterfall Asset Management, LLC ("Waterfall") where they established the private equity platform in 2017, focusing on investing in a diversified portfolio of high-growth financial services and financial technology businesses in the lower middle market.

Since 2017, the NewMile team has invested in eight platform companies ranging from business banking, Equipment as a Service, insurance administration, insurance distribution / InsurTech, litigation finance, residential mortgage origination, retirement services, and wealth management.

NewMile, comprising its full investment team of Eric Bail, Garo Cannuscio, John Nelligan, Alain Toto, and Gene Weil, will serve as the sub-adviser to the existing Waterfall private equity portfolio, and pursue new investments in differentiated financial services businesses.

NewMile is a specialized institutional private equity investor in scalable lower middle market businesses that solve critical pain points or create innovation in financial services business models. NewMile targets equity investments of $25-$150 million.

For more information, please visit: www.newmilecapital.com

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SOURCE NewMile Capital LLC