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Saluda Grade, an alternative investment firm with a focus on residential real estate finance, announced this week that it hired Jim Boothby as its head of global business development.
Boothby has more than 25 years of experience in credit, business development and investor relations. He comes to Saluda Grade after working as the global co-head of business development at CIFC Asset Management.
Prior to that, he was the managing director at Seix Investment Advisors, where he oversaw single-family and multifamily assets, endowments, foundations and other institutional segments throughout North America.
“I’m excited to join Saluda Grade, as the firm has proven it can offer innovative and compelling alternative investment solutions,” Boothby said in a statement. “While I’ve seen the broader private credit boom firsthand, investor demand for asset-based credit strategies, specifically, has grown significantly in recent years.
“Saluda Grade has already established itself as a premier destination for residential asset-based finance, and this area of the market still has tremendous potential for additional growth. Above all else, I’m excited to apply my experience to help our firm continue capitalizing on that opportunity and generating attractive opportunities for our clients.”
Boothby’s role is a new one created by Saluda Grade as it seeks to grow business development strategies under Dan Hoinacki, its head of client solutions. In 2024, the firm expanded its leadership team by hiring Rick Hanna as chief operating officer, Jennifer Babsin as head of marketing, and Roger Ashworth as head of research and data.
Saluda Grade added two commingled funds and two separate managed accounts to its credit business last year, while also launching a third growth equity fund. It grew its assets under management from $1.2 billion at the end of 2023 to $1.7 billion at the end of 2024.
Among the firm’s growth equity portfolios, Builders Capital raised $500 million in a new partnership with InterVest Capital Partners. Figure spun out its lending business and became the nation’s largest nonbank originator of home equity lines of credit (HELOCs). Saluda Grade also finalized its exit from Spring EQ with its acquisition by Cerberus Capital Management.
Saluda Grade, which is headquartered in New York City and has an office in Aspen, Colorado, sponsored and issued 10 new securitizations with a total value of $2.5 billion in 2024.
“I’m humbled by the success we had in 2024, and our firm is motivated to continue building on our momentum,” said Ryan Craft, founder and CEO of Saluda Grade. “We have tremendous opportunities ahead in 2025 and beyond as institutional demand for asset-based strategies continues to grow, and the expansion of our senior team serves as our latest commitment to our investors.”
