Sunday, 3 May 2015
Last updated 2 days ago
Mar 24 2008 | 9:49am ET
Alternative investment firm BlackRock and hedge fund Highfields Capital Management have teamed up to launch a company that will acquire and restructure distressed residential mortgage loans.
The new company, Private National Mortgage Acceptance Company, or PennyMac, will raise capital from private investors, acquire loans from financial institutions seeking to reduce their mortgage exposures, and seek to create value for both borrowers and investors through distinctive loan servicing.
The new firm will be run by a management team made up of BlackRock and Highfields executives, led by Stanford Kurland, who will serve as PennyMac's chairman and chief executive officer.
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…