Wednesday, 1 April 2015
Last updated 7 hours ago
Apr 23 2009 | 10:56am ET
New York-based Belstar Group has launched a pair of hedge funds to invest in government-financed asset-backed securities.
The Belstar Credit Fund and the Belstar Altair Credit Fund will participate in the Term Asset-Backed Securities Loan Facility program, which finances the purchase of eligible highly-rated securities.
Under TALF, the Federal Reserve Bank of New York will provide up to $1 trillion of non-recourse loans available to eligible borrowers of triple-A-rated debt collateralized by eligible consumer and small business loans. The loans are also non-mark-to-market and pre-payable at any time.
New hire Simina Farcasiu, fomerly of Bear Stearns and JPMorgan Asset Management, will be the senior portfolio manager for the funds.
“These opportunities arise out of unprecedented dislocation in the credit markets,” said Farcasiu. “Without the overhang of legacy assets or other conflicts, the Belstar Group has built a TALF-platform that effectively addresses today’s markets.”
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…