Wednesday, 17 December 2014
Last updated 5 hours 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.