OUR TEAM
The right people in the right seats, starting with the founders.
Anuj Gupta oversees Scythian’s general partner vehicle and leads management of all aspects of Scythian’s origination across the firm's lower and middle market commercial real estate credit strategies, from capital-heavy bridge loans and acquisitions to capital-light, government-licensed lending, strategically building a multi-product business that can thrive through economic cycles.
Anuj's life began in Nairobi, where he once read an article that said one Wall Street bonus could equal a lifetime of earnings in Africa. That evoked a curiosity that carried him 7,500 miles.
Anuj studied at the University of Michigan and Boston University, then began his career at NatWest and Greenwich Capital structuring mortgage and asset-backed securitizations. His core foundation came at GE Capital, where he built a multi-billion dollar middle-market origination platform. His on the job training coupled with week-long residencies at GE’s vaunted Crotonville facility, alongside Ivy League deans and Fortune 100 CEOs, rewired his thinking about organizational infrastructure, credit, leadership, and strategy.
That training brought him to Waterfall Asset Management, where he met Tim Geraghty, then a banker at Deutsche Bank financing the origination platform Anuj had launched and was running. Together, they built an ecosystem of businesses including SBA, Acquisitions, Bridge, Fixed-Rate, Freddie Mac SBL and Tax-Exempt Bond Financing all focused on the lower-to-middle market. They oversaw real estate debt originations growth from $150 million to $5 billion a year and executed on over $3 billion of loan and operating business acquisitions, eventually converting the platform into a public REIT via a reverse IPO. That partnership and the shared philosophy and revelations it fostered have laid the foundation for Scythian Capital Management.
Anuj Gupta
Co-Founder & Managing Partner
Highlights
Served as Co-Head of a $5 billion public-private investment fund in partnership with the U.S. Department of the Treasury.
Built and led a multi-billion-dollar middle-market commercial real estate debt origination platform at GE Capital.
Founded and scaled Waterfall Asset Management’s commercial real estate platform as President, growing it to more than 100 professionals, approximately $5 billion of annual originations, and completed over $3 billion of acquisitions involving whole-business and loan-portfolio transactions.
Developed and led multiple lending and investment verticals, including Acquisitions, Bridge Lending, Fixed-Rate Lending, Freddie Mac Small Balance Loans, and Tax-Exempt Debt.
Conversion of the CRE lending platform into a publicly traded REIT through a reverse IPO.
As CEO, restructured and rebranded a private-equity-owned middle-market CRE lending platform and sourced $500 million of joint-venture capital.
Brings more than 30 years of experience in lower- and middle-market commercial real estate credit, lending, structured finance, and platform building.
Graduate of GE Capital’s Crotonville strategic leadership programs.
M.S., Boston University; B.S., University of Michigan.
Tim Geraghty oversees all aspects of Scythian’s general partner vehicle, portfolio management, capital formation and structures financing across the firm's lower and middle market commercial real estate credit strategies. He uses the Wall Street toolkit he developed at Deutsche Bank and Waterfall Asset Management,where he leverages his deep relationships across a wide swath of counterparties and execution experience of various financial transactions inclusive of warehouse, securitization, secured corporate and other asset level or portfolio financings.
Tim grew up in Yonkers, New York, where his blue-collar, middle-class parents made sacrifices to send him to a strong prep school. Their belief in the power of discipline and education shaped his values and continues to inform how he approaches business today.
Tim graduated from college in 2007 and walked straight into the Great Financial Crisis, joining Deutsche Bank's structured products group. He spent his first years in triage: bankruptcies, litigation, and distressed assets across residential and commercial credit. By 2010, he had become Deutsche's primary banker covering CRE deals under $50 million. That work brought him to Anuj Gupta, who was running the business Tim was financing at Waterfall.
Shortly after, Tim joined Anuj on the buy side at Waterfall, where together they built an ecosystem of capital-heavy and capital-light businesses that grew real estate originations from $150 million to $5 billion a year and executed over $3 billion of loan portfolio and operating business acquisitions.
Watching managers prioritize volume over discipline, tolerate misaligned incentives, and allow concentrated exposures to weaken portfolios led Tim and Anuj to a defining conviction: sound investing takes more than sound math. It takes partners who trust one another, have navigated market cycles, learn from history without bias, execute on a shared strategy and vision, and align their incentives. That conviction is Scythian.
Tim Geraghty
Co-Founder & Managing Partner
Highlights
Served as Deutsche Bank’s primary middle-market CRE banker, advising investment managers, private funds, and specialty-finance platforms on financing, warehouse, and securitization transactions.
Nearly 20 years of experience across commercial real estate,residential real estate, asset-backed credit, and capital markets.
Built Waterfall Asset Management’s capital-markets infrastructure from the ground up, ultimately serving as Global Head of Capital Markets and executing fund- and asset-level financings across a $25 billion debt portfolio.
Played a lead execution role in more than 60 securitizations totaling approximately $30 billion, placed with over 450 distinct securities investors.
Co-led the strategic expansion of a real estate lending platform from $150 million to $5 billion of annual originations, while completing more than $3 billion of acquisitions involving whole-business and loan-portfolio transactions.
As CIO/CFO of a private-equity-owned middle-market CRE finance business, established its first broadly syndicated securitization platform and closed and operationalized $500 million of joint-venture capital.
B.B.A., Loyola University Maryland.
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