Tuesday, 2 June 2015
Last updated 4 hours ago
Dec 9 2010 | 12:40pm ET
Buoyed by the success of its first residential mortgage-backed securities fund of hedge funds, Gorelick Brothers Capital has launched a sequel.
The North Carolina-based fund rolled out the Motorcroft Special Opportunity Fund II with $30 million in initial assets—both firm capital and money from multi-family offices, HFMWeek reports. Unlike its predecessor, the new closed-end vehicle will invest in agency loans, in addition to non-agency and whole loans.
Motorcroft I is up 14% this year.
Former Banc of America Securities collateralized debt obligations head Christopher Skardon will manage the new fund, which has a $200 million capacity. It will invest in between 10 and 15 managers.
Gorelick currently manages $120 million. The first Motorcroft fund debuted in March 2008.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…