Tannenbaum Capital Group

What Tannenbaum Capital Group does

Tannenbaum Capital Group (TCG) is a group of affiliated asset managers founded in 2020 and headquartered in West Palm Beach, Florida, specializing exclusively in credit-based investment strategies. The firm serves institutional investors, family offices, and individual investors through four distinct product vehicles: Sunrise Realty Trust, Inc. (Nasdaq: SUNS), a publicly traded mortgage REIT focused on transitional commercial real estate in the Southern United States; Southern Realty Trust Inc., a private mortgage REIT with a similar Southern CRE focus; the TCG Strategic Income Interval Fund (TCGSX), an opportunistic credit interval fund; and AFC BDC, a business development company targeting private credit. Each vehicle is managed by a dedicated credit team under one of six affiliated investment adviser entities (including registered investment advisers AFC Management, SRT Group, Sunrise Manager, and TCG Strategic Income Advisor).

Name

Tannenbaum Capital Group

Legal name

Tannenbaum Capital Group

Website

https://thetcg.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Tannenbaum Capital Group is a credit-focused asset manager operating since 2020, serving institutional, family office, and individual investors through affiliated public REIT, private REIT, BDC, and interval fund vehicles.

Ownership category

akta.pro rank

Headquarters

HQ city

West Palm Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Investment Advisory Fees: TCG entities operate as registered investment advisers generating revenue through management fees and performance fees from managing credit-focused funds including real estate lending, opportunistic credit, and private credit strategies.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Tannenbaum Capital Group (TCG) is a group of affiliated asset managers delivering credit-based investment strategies to institutions, family offices, and individual investors. Each TCG entity specializes in real estate lending, opportunistic credit, or private credit through four distinct product vehicles: a Nasdaq-listed public REIT (Sunrise Realty Trust), a private REIT (Southern Realty Trust), an interval fund (TCG Strategic Income / TCGSX), and a Business Development Company (AFC BDC).

Product overview

Tannenbaum Capital Group (TCG) is a group of affiliated asset managers offering credit-based investment strategies through a multi-product platform. The company operates four distinct products: two Real Estate products (Sunrise Realty Trust, a Nasdaq-listed public REIT, and Southern Realty Trust, a private REIT) providing commercial real estate lending; an Opportunistic Credit product (TCG Strategic Income Interval Fund) for flexible credit investments; and a Private Credit product (AFC BDC) focused on lower-middle-market lending. All products are led by seasoned credit teams with meaningful alignment through principal investment.

Differentiator

Problem solved

Functional benefit

Brands

• Sunrise Realty Trust, Inc. Public mortgage REIT (Nasdaq: SUNS) providing flexible financing on transitional CRE properties, focusing on markets in the Southern U.S.
• Southern Realty Trust Inc.
• AFC BDC
• TCG Interval Fund

Products and services

• Sunrise Realty Trust, Inc. (SUNS) Nasdaq-listed mortgage REIT that provides flexible financing on transitional commercial real estate properties, focusing on top-tier assets in Southern U.S. markets with growth potential. Targeted at institutional and individual investors seeking commercial real estate credit exposure.
• Southern Realty Trust Inc. Private mortgage REIT providing flexible financing on transitional commercial real estate properties, primarily serving Southern U.S. markets. Targeted at institutional and family office investors.
• TCG Strategic Income Interval Fund (TCGSX) Opportunistic credit strategy offered as an interval fund structure with flexible investment approach across credit markets and periodic liquidity provisions. Targeted at individual investors and advisors seeking diversified opportunistic credit exposure.
• AFC BDC Business Development Company providing private credit solutions to lower-middle-market companies, managed by experienced credit team. Targeted at institutional investors seeking exposure to private credit lending.

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• AFC Management, LLCcoreOthersRegistered investment adviser under the Investment Advisers Act of 1940, one of the TCG affiliated advisers managing credit-based strategies.
• SRT Group LLCcoreOthersRegistered investment adviser under the Investment Advisers Act of 1940, affiliated with TCG and managing Sunrise Realty Trust.
• Sunrise Manager LLCcoreOthersRegistered investment adviser under the Investment Advisers Act of 1940, affiliated with TCG and managing Sunrise Realty Trust.
• TCG Strategic Income Advisor LLCcoreOthersRegistered investment adviser under the Investment Advisers Act of 1940, affiliated with TCG managing strategic income products.
• AFC Institutional Fund Manager, LLCcoreOthersExempt reporting adviser under the Investment Advisers Act of 1940, affiliated with TCG.
• 620 Asset Management LLCminorOthersInvestment adviser managing single family office assets under family office exemption, operates under family office exemption and is not engaged in investing activity other than managing capital of family clients.

Scale indicators4 records

Recent moves5 records

Broad incumbents

• Blackstone Credit & Insurance: Private credit arm of Blackstone running direct lending, asset-based credit, and real estate debt strategies; broad incumbent overlapping with TCG's private credit and CRE lending vehicles.
• Apollo Global Management: Mega-cap alternative manager with significant private credit and BDC (Apollo Investment Corp/BCRED) franchises; broad incumbent with overlapping capability to TCG's credit and BDC products at much larger scale.
• KKR Credit: Credit franchise of KKR spanning private credit, direct lending, and real estate debt (KKR Real Estate Finance Trust, NYSE: KREF); broad incumbent that overlaps with TCG's CRE lending and private credit strategies.
• Ares Management: Large publicly listed alternative asset manager with a leading private credit franchise (Ares Credit) spanning direct lending, BDCs, and liquid credit strategies; comparable to TCG's multi-vehicle credit platform but materially larger in scale.

Emerging players

• Ready Capital: Publicly listed mortgage REIT and small-balance commercial lender (NYSE: RC); comparable at a similar scale to SUNS and Southern Realty Trust, with overlapping transitional CRE focus.

Direct peers

• Sixth Street Partners: Private credit and opportunistic credit manager running multiple product structures (private funds, listed vehicles, SMA-style capital); similar multi-vehicle credit architecture and emphasis on flexible capital solutions.
• Oaktree Capital Management: Credit-focused alternative asset manager running opportunistic credit, private credit, and real estate strategies across listed and private vehicles; the closest pure-play peer to TCG's credit-specialist identity.
• Blackstone Mortgage Trust: Publicly listed mortgage REIT (NYSE: BXMT) focused on senior loans on transitional and stabilized commercial real estate; the most direct public proxy for TCG's Sunrise Realty Trust (SUNS) product.
• Marathon Asset Management: Credit-focused alternative manager offering private credit, real estate debt, and opportunistic strategies via listed and private vehicles; comparable mid-scale multi-product credit platform.
• Golub Capital: Leading direct lender and BDC sponsor (Golub Capital BDC, Nasdaq: GBDC); highly comparable to TCG's AFC BDC product and direct-lending focus on the middle market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/tannenbaum-capital-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tannenbaum Capital Group