Wednesday, 17 September 2014
Last updated 14 hours ago
Aug 19 2010 | 2:18pm ET
Hedge fund H/2 Capital Partners will be calling the shots on a portfolio of commercial mortgage-backed securities after agreeing to buy the riskiest tranche of the offering.
The deal with Stamford, Conn.-based H/2 is part of a $1 billion CMBS sale, the year’s largest. H/2 is buying the bottom $50 million of the securitization, and in exchange will have primary authority over the troubled loans, Bloomberg News reports.
By contrast, Goldman Sachs and Citigroup gave those rights to buyers of the highest-rated tranches in their $788.5 million debt sale earlier this month.
H/2 will get a 14% yield on the 10-year investment, in the unlikely scenario that the loans suffer no losses.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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