Gorelick Launches Second Mortgage-Backed Closed-End Fund Of Funds

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.


In Depth

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Lifestyle

Einhorns Busts At WSOP, Finishes In 173rd

Jul 15 2014 | 10:48am ET

Greenlight Capital founder David Einhorn’s World Series of Poker won’t end at...

Guest Contributor

Common Risk Parity Misperceptions

Jul 16 2014 | 11:02am ET

Over the past few years, risk parity has become a component of most investors’...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note