Nik Chillar serves as Crescit Capital Strategies, Head of Banking. He brings a unique combination of twenty years of experience in commercial real estate loan origination, underwriting, securitization and trading.
Prior to the founding of Crescit Capital, he was the senior executive and bond trader responsible for managing the U.S. portfolio of CMBS/CLO securities for the Union Bank subsidiary of Mitsubishi, one of the world’s largest financial organizations with total assets of $2.6 trillion. Mr. Chillar also served on the bank’s Volcker adoption committee, oversaw the CCAR stress testing reporting on the securities portfolio and served as an internal advisor to the Tokyo CLO investment group at MUFJ Tokyo.
During the financial crisis of 2008 and 2009, Nik Chillar managed a distressed real estate fund primarily invested in heavily discounted AAA CMBS bonds, which later evolved into a CMBS origination platform in a partnership with Jefferies LoanCore. This platform capitalized on his previous experience as a co-founder of a mortgage origination business that was ultimately sold to CharterMac Mortgage Capital (aka: Centerline Mortgage Capital) where Nik Chillar was co-head of Mortgage Originations.
Earlier in his career, Nik Chillar managed a structured finance team for Lehman Brothers Principal Transactions Group based in London. There he led a team that developed new securitized products in conjunction with Lehman’s investment banking efforts in Western Europe. His team was awarded the International Real Estate Deal of the Year awards in 2001, 2002 and 2003 for their success in structuring the first successful CMBS transactions in Switzerland, Italy and Spain. Mr. Chillar began his career with finance company FINOVA Capital, where over a period of six years he moved from underwriting CMBS loans to hedging the mortgage pipeline, to ultimately taking responsibility for all of the firm’s capital markets efforts. During the “dot com” crisis, he led the rescue effort that raised $1 billion in cash for the firm.
Nik Chillar has both a B.A. in Social Science/Economics and a B.S. in Biological Sciences from the University of California, Irvine.