Polar Asset Management Partners Inc. (“Polar”), a Toronto-based global alternative asset manager, today announced the successful completion of its inaugural residential mortgage-backed securities (“RMBS”) transaction, White Bear RMBS I LP, Series 2026-1 (the “Transaction”), backed by a pool of approximately $430 million first-lien fixed-rate uninsured Canadian residential mortgages.

The Transaction represents an important milestone for Polar, marking the firm’s entry into the RMBS market as part of its expanding alternative lending and securitization platform. The Transaction received strong investor demand and was oversubscribed, reflecting confidence in Polar’s inaugural issuance. Polar’s alternative lending platform enables underserved high-quality borrowers in Canada to access affordable home mortgages.

“Alternative lending and asset-backed securities are playing a bigger role in Canada, and this transaction demonstrates the versatility of Polar’s platform,” said Greg Lemaich, Chief Executive Officer, Polar Asset Management Partners. “This inaugural RMBS transaction, which attracted strong investor demand, represents an important milestone for Polar as we continue to grow our mortgage lending and securitization capabilities.”

Morningstar DBRS has finalized its provisional credit ratings for the Transaction as follows: AAA (sf) on the Residential Mortgage Backed Notes, Series 2026-1, Class A; AA (sf) on the Residential Mortgage Backed Notes, Series 2026-1, Class B; and BBB (low) (sf) on the Residential Mortgage Backed Notes, Series 2026-1, Class C. As of the August 31, 2026 pool cut-off date (the “Cut-off Date”), the collateral pool had a weighted-average loan-to-value ratio of 71.1% and a weighted-average credit score of 763. The initial Mortgage Loans were originated between December 2024 and July 2026 and had a weighted-average seasoning of seven months, with 100% of the Initial Mortgage Loans current, each as of the Cut-off Date.

CMLS Financial Ltd (“CMLS”), a wholly owned subsidiary of Nesto Group and an approved lender and issuer under the National Housing Act Mortgage-Backed, is the Servicer for the Transaction. Together with Nesto, CMLS has more than $85 billion of mortgages under administration, including approximately $36 billion of residential mortgages, and has a MOR RS1 residential mortgage servicer ranking from Morningstar DBRS, the highest servicer ranking category, as of March 6, 2026.

About Polar Asset Management Partners

Based in Toronto and founded in 1991, Polar is a global alternative asset manager. Polar focuses on niche-oriented strategies which have attracted investors from around the world. As of June 30, 2026 Polar managed US$5.7 billion across four primary offerings: the flagship Polar Multi-Strategy Fund, a US equity long/short strategy known as Polar Long/Short Fund, Polar Micro-Cap Fund, Polar CRS Fund-1, and Polar CRS Fund-2. For more information visit: https://polaramp.com/.

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