Saturday, 23 May 2015
Last updated 15 hours ago
Feb 3 2014 | 3:59pm ET
Hedge fund Omni Partners is getting into the real-estate lending business.
The London-based firm is set to launch its first property-lending fund, Financial News reports, three months after bringing origination platform Capital Bridging Finance in-house.
The new fund will made shorter-term loans in the U.K., on both commercial and residential properties. The loans—which will charge interest rates of between 8% and 24%—will have a maximum duration of 18 months.
Omni plans to seek out opportunities with loan-to-value ratios of up to 70%, according to FN.
The fund will offer "the benefit of the inverted yield curve in assets," an Omni spokesman told FN. "Clients will receive a higher return for less duration risk."
Capital Bridging had been seeded by Omni founder Steve Clark.
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…