Saturday, 20 December 2014
Last updated 1 day ago
May 6 2010 | 1:05pm ET
Toscafund Asset Management may begin lending capital to banks as part of its expansion into the European secondary mortgage market.
The London-based firm was already planning to raise a second £250 million fund to buy mortgage-backed bonds and other securitized mortgage securities, as well as distressed mortgages. Now, the firm is considering getting into the business of bank lending, insuring riskier parts of a bank’s equity structure, The Independent reports.
“There is a social agenda with the funds, as the strategy allows banks to free up capital for new lending, which is helpful for the economy, and debt forgiveness for individual borrowers, which increases their disposable income,” Charles Schrager, who heads Tosca’s mortgage funds, called Mod, told the newspaper.
“You won’t find Tosca’s representatives knocking on the door to repossess,” he added. “That’s not what we are about. Although we hope to make strong returns for our investors, this whole operation has a social agenda at its core.”
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.