In February, 2013, Mr. Devens joined EJF Capital, LLC, as a Managing Director focused on asset-based lending. EJF Capital is a hedge fund based in Arlington, Virginia run by Emmanuel J. Friedman, a co-founder of Friedman, Billings, Ramsey Group, Inc. ("FBR", currently known as Arlington Asset Investment Corp, NYSE:AI).Prior to joining EJF, Mr. Devens co-founded The Bear Companies* in 2002 to provide financing and advisory services to real estate and financial services companies through the debt, equity and structured finance markets. The firm provided over $1.5 billion of capital to its target sectors and completed $800 million of restructuring transactions.In 2005, Mr. Devens helped create and became President of Kodiak Funding, LP, a CDO creator and manager focused on investing in corporate real estate and finance company obligations. With Mr. Devens as President, Kodiak completed two equity capital raises totaling over $250 million and two CDO transactions with total proceeds of over $1.5 billion. Following the credit crisis, Mr. Devens headed up The Bear Companies’ push into advising financial institutions on managing and restructuring their corporate debt. He directed TBC’s efforts as dealer-manager in over $500 million of bank holding company debt restructuring transactions and $300 million of non-bank finance company restructuring transactions. He was instrumental in developing the firm’s loan review and valuation practice, which completed loan review assignments on over $1 billion of bank loan portfolios.Prior to TBC, Mr. Devens spent five years in the Real Estate Investment Banking Group of Goldman Sachs in New York. At Goldman, Mr. Devens specialized in structured real estate debt origination and securitization. He was actively involved with secured, fixed- and floating-rate debt transactions totaling more than $5 billion.Specialties: Structured FinanceTrust Preferred SecuritiesFinancial InstitutionsCommercial Real Estate