Ex-Structured Portfolio Management Execs Form New MBS Fund

Jan 25 2017 | 10:21pm ET

A team of executives from Don Brownstein’s $2 billion credit hedge fund Structured Portfolio Management have founded a new firm that will focus on commercial and residential mortgage-backed securities. 
 
The new firm, named Nara Capital Partners, plans to launch its master fund in March with $150-$200 million in capital, according to a Reuters article quoting co-founder Charles Smart. 
 
Smart managed SPM’s Structured Servicing Holdings fund for six years before leaving in March of last year. The fund performed well under his tenure, gaining 28% in 2012, 4.2% in 2013, 10.5% in 2014, and 4% in 2015, Reuters data shows. 
 
Beforehand joining Structured Portfolio Management in 2008, Smart was a senior mortgage trader for Deutsche Bank Securities and previously held trading positions at FTN Financial, Nomura and Citibank.
 
Joining Smart in the new venture is former SPM head of global marketing Alex de Calice, former SPM portfolio managers Joe DeGregorio, Munish Gupta and Frank O'Neill, risk manager Qian Yang and CTO Kyle Johnson, the article said. 
 
Nara Capital is based in New York and has reportedly been seeded by an as-yet unidentified European investor. 

In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...

 

From the current issue of