Quiddity Group LLC

Michael Wirth is our President.  Mr. Wirth has over 30 years of experience in the real estate and financial services industries and has managed a fund of over $2 billion in real estate debt and equity investments/securities and, as a consultant, advised or structured over $30 billion in structured debt and $20 billion of real estate investments.   During his career as a Chief Financial Officer (“CFO”), he has executed five IPOs of REITS and/or finance companies.

Mr. Wirth joined Quontic Bank upon its founding in 2009.  Currently he is the lead independent director (non-executive chairman) and chairman of the Audit and Compliance Committees.  Quontic Bank is a federally chartered bank and was recently named the country’s #1 digital bank by Forbes.  In the realms of real estate, structured finance and capital markets, Mr. Wirth has performed litigation support services and training for REITs and the Federal Home Loan Bank.  His past experience has been in heavily regulated industries or companies and his depth of experience in both private and public markets has provided him with a wealth of best practices in finance, operations, management and compliance.

Mr. Wirth was the Chief Financial Officer for Cape Advisors, a real estate development, property manager and owner of real estate in New York City, Long Island and New Jersey from 2016 to 2023.  From 2013 to 2016, Mr. Wirth was the CEO of Maiden Lane, a turn-around situation in which he successfully increased assets and quadrupled revenues and enhanced infrastructure to accommodate growth.  From 2006 to 2012, Mr. Wirth was the CFO of Kohlberg Capital, a private equity/specialty finance company.  From 2003 to 2006, Mr. Wirth, was a co-founder, executive vice president and chief financial officer of New York Mortgage Trust, Inc. and was responsible for the planning and implementation of NYMT’s $131 million IPO in June 2004.  Prior to co-founding NYMT, Mr. Wirth was Senior Vice President and Director of Finance of Fortress Investment Group the external advisor for Newcastle Investment Corp, a hybrid REIT which, in his capacity as CFO, he assisted in taking public.  During his tenure at Fortress he was responsible for the equity capital raises for Newcastle as well as its reporting and compliance activities.

Mr. Wirth has also been Senior Vice President and CFO of three additional publicly traded companies:  CharterMac, a residential finance company, American Mortgage Acceptance Company (“AMAC”), an apartment mortgage REIT, and Aegis Realty Inc., a retail property REIT.   For CharterMac and AMAC, Mr. Wirth helped manage their IPOs, follow-on offerings and preferred stock issuances as well as activities related to business acquisitions and dispositions.

In his capacity of CFO, he directed equity and debt capital activities, treasury, financial reporting, Sarbanes-Oxley compliance and budgeting activities, among other things. He was also involved in all operational and structural aspects of the companies and was a voting member of the executive management committee and in most cases, the investment committee.  In transitioning private companies public through the IPO process, he has helped design and implement corporate strategies and cultural change to achieve substantial growth organically and via M&A.  As a director and public company CFO, Mr. Wirth is well familiar with the 1933 and 1934 Securities Acts, and the Investment Company Act of 1940.  He is familiar with SEC compliance for issues such as Sarbanes-Oxley, Registered Investment Advisor and Registered Investment Company compliance, Wells Notices and OCC banking regulatory compliance and issues.

For CGA Investment Management, Mr. Wirth has buy-side and sell-side experience specializing in commercial real estate, CMBS and REIT unsecured debt and preferred stock by underwriting and managing a $2 billion dollar investment portfolio. Mr. Wirth began his career as a CPA and auditor with Deloitte specializing the real estate, banking, consumer products, publishing and manufacturing industries.  He later migrated to the real estate consulting practice of Deloitte and where his clients included most of the country’s top ten insurance companies, thrifts and banks.  In this capacity he advised his clients on their commercial real estate portfolio holdings, acquisition and disposition strategies, bulk sale and securitization structures and portfolio management.  He has structured, underwritten, purchased or sold or otherwise advised on over $50 billion in real estate assets of all property types throughout the country.  His clients have included Freddie Mac, KKR, TIAA-CREF, Confederation Life, Equitable, MetLife, Bank of Tokyo, Lehman Brothers, Apollo, Blackstone and many other national and international financial services companies and investors.

Some recommendations for Mr. Wirth are available below.

KCAP Chairman Lacovara Recommendation for Michael Wirth

KCAP CEO President Pearson Recommendation for Michael Wirth