Friday, 22 May 2015
Last updated 4 hours ago
Oct 18 2006 | 12:10pm ET
AmericaVest Capital Management has launched a mortgage-backed hedge fund that charges no performance fee until it has returned 10%.
The Fort Lauderdale, Fla.-based firm’s AmericaVest Partners “10/10” Fund will invest in underperforming and distressed mortgage loans, as well as newly-originated hard money loans. The fund seeks to limit volatility by then liquidating the loans.
“Our goal is to provide qualified clients the opportunity to participate in fixed priority returns that are backed by real and tangible assets,” said Brian Plunkett, the firm’s senior portfolio manager.
The fund charges a 2% management fee, and investors share in 10% of its returns above 10% quarter-on-quarter. The minimum investment is $250,000.
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…