Willkie Advises XL on Investments in Five Oaks

April 1, 2013

Firm represents XL Investments Ltd in connection with its investments in Five Oaks Investment Corp. and in its investment in Oak Circle Capital Partners LLC, the Manager of Five Oaks.

On March 27, Five Oaks Investment Corp., a mortgage-based real estate investment trust, completed its initial public offering, raising $85.5 million.  Willkie represented XL Investments Ltd in connection with its original investments in March 2012 in Five Oaks and XL Global, Inc. in its investment in Oak Circle Capital Partners LLC, the Manager of Five Oaks. Prior to the IPO, XL owned approximately 98% of the outstanding equity of Five Oaks and in connection with the IPO, XL purchased an additional $25 million of common stock of Five Oaks in a private placement. The IPO of 4.03 million shares of Five Oaks common stock was priced at $15 per share. Based in New York, Five Oaks specializes in investments in residential mortgage-backed securities, mortgage loans and other mortgage-related investments.

The deal was handled by partners Robert Stebbins, James Brown, Jordan Messinger, Laura Delanoy, Richard Mancino and Michael Schwartz, of counsel Joseph Cunningham and associates Mark Vandehaar, DJ Stauber and Evan Goodman.