Monday, 25 May 2015
Last updated 3 days 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…