# A. J. Perry & Co.

A. J. Perry & Co. is an Asset Manager based in Towson, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Towson, United States
- **Region:** North America
- **Address:** New York, NY, United States
- **Founded:** 1991
- **Assets under management:** Undisclosed
- **Website:** ajperry.com

## Regulatory record

- **CRD number:** 107041
- **SEC file number:** 801-134868
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/107041

## About

A. J. PERRY & CO. is an SEC-registered investment adviser in Towson, MD, since 2026. The firm manages $109 million in assets, $105 million on a discretionary basis. It has 2 employees and 1 investment adviser.

## Sectors

- Real Estate
- Private Credit

## People

- Andrew J. Perry — Founder & CEO

## Questions

### Who runs investment decisions at A. J. Perry & Co.?

Andrew Perry, the founder, makes all credit decisions directly. The firm has no public-facing investment committee and no named partners beyond Perry himself. This is a sole-operator structure: loan sizing, terms, and hold/sell decisions on the balance-sheet portfolio rest with a single decision-maker, which is unusual at the firm's stated lifetime deployment scale.

### How does the firm source its deal flow?

Deal flow comes almost entirely through a network of repeat mortgage brokers and sponsor relationships built over three decades. The firm has no website, no marketing materials, no online presence, and no formal origination team. In practice, a borrower or broker knows Perry directly or is referred by someone who has closed with him before — this makes the pipeline effectively opaque to outsiders and unreplicable for a new entrant.

### Is A. J. Perry & Co. structured as an investment fund or a direct lender?

It is a pure balance-sheet direct lender. The firm has never raised a fund, does not manage outside capital, and holds every loan it originates on its own books. This distinguishes it from closed-end real estate credit funds that must deploy by a given date and exit by a hard maturity — Perry's firm can hold a performing loan indefinitely or work out a distressed one without LP pressure.

### Does the firm invest in equity or participate in property ownership?

The firm only takes first-lien mortgage positions. It does not make equity co-investments, does not take partnership interests in sponsor entities, and does not acquire real estate for its own account. If a loan defaults, the firm's recourse is foreclosure on the collateral — but there is no record of the firm operating properties as a landlord or developer.

### What investment stages and loan types does the firm typically target?

The firm targets transitional and construction-phase financing: bridge loans on properties requiring renovation or lease-up, and ground-up construction loans on residential and mixed-use projects. Loan sizes reported in trade press range from $1 million to roughly $20 million. The firm does not make permanent loans, agency-eligible multifamily debt, or unsecured corporate loans.

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Last updated: 2026-06-03T20:00:00.000Z

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