Belstar Group Launches Fed-Financed Credit Funds

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.”


In Depth

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...