Alston & Bird client Covius Holdings Inc., a leading provider of technology-enabled solutions to the financial services industry, has acquired Clayton Services LLC from Radian Group Inc.
Based in Glendale, CO, Covius is a portfolio company of Aquiline Capital Partners, a New York–based private equity firm investing in financial services.
In 2019, Covius was named one of HousingWire’s Tech 100 winners as one of the top 100 most innovative technology companies within the U.S. mortgage industry.
A leader in loan due diligence and credit risk management surveillance services, Clayton will broaden Covius’s footprint in mortgage and real-estate-market risk-management solutions. Founded in 1989, Clayton has reviewed more than 17 million loans and currently monitors the performance of more than $2 trillion in loans, securities, and mortgage servicing rights.
As part of the transaction, approximately 550 Clayton associates, primarily in the company’s Tampa and Denver locations, will be joining Covius, as will Clayton’s senior due diligence and surveillance management teams.
Advising Covius is an Alston & Bird team led by partner Chris Frieden, senior associate John Gerl, associate Nathan Tyre, and senior attorney Sarah McElroy (Financial Services & Products); partner Blake MacKay (Employee Benefits & Executive Compensation); partner Brian Harvel and associate Mike Senger (Federal & International Tax); partner Mark Rusche (Real Estate Finance & Investment); and partner David Teske (Technology & Privacy).