Tuesday, 26 May 2015
Last updated 3 days ago
Oct 29 2013 | 7:48am ET
Cerberus Capital Management has launched a new commercial mortgage-backed securities hedge fund.
The New York-based alternative investments giants rolled out the CMBS Opportunities Fund on Oct. 7, seeking to take advantage of the growing market in commercial mortgage debt, Bloomberg News reports. CMBS issuance is likely to double this year, according to Credit Suisse Group.
The "new issuance market has grown steadily since 2009, with 2013 issuance ahead of last year's pace," Cerberus wrote in a letter to investors.
The new fund is managed by Ross Feldman, Kyle Schneider, Scott Stelzer and Matthew Waldenberg. The team, led by Stelzer, head of commercial mortgage trading at Cerberus, joined the firm in 2008.
CMBS Opportunities trades senior and subordinated mortgage-backed securities, interest-only securities, collateralized debt obligations and mezzanine loans.
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…