Thursday, 26 November 2015
Last updated 17 hours ago
Jan 5 2009 | 9:39am ET
Guggenheim Partners, a $100 billion asset management firm, has launched a mortgage hedge fund to exploit opportunities in the real estate and commercial mortgage sectors.
The firm’s $233 million Opportunistic Investment Grade Securities Fund made its debut in October and is up 8.2% in its first two months of trading.
The fund will invest primarily in performing and non-performing real estate assets, including mortgage loans, mortgage-backed securities and asset-backed securities. It will also invest in other securities, including collateralized obligations and derivatives.
The firm said it believes that the recent volatility in the credit market has created numerous dislocations and that more are likely to occur as the excesses of the past few years are unwound. It also believes that high quality assets will be sold by many investors due to capital needs, margin calls or forced liquidations and the fund will seek to take advantage of these opportunities as they arise.
The fund charges a 1% management fee and a 10% incentive fee with a $25 million minimum investment requirement.
Guggenheim’s current business lines include asset management, investment advisory, capital markets, institutional finance, and merchant banking.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…