Sunday, 24 May 2015
Last updated 1 day ago
May 8 2009 | 1:49pm ET
New York-based hedge fund seeding firm SkyBridge Capital has invested $50 million in WyeTree Asset Management.
London-based WyeTree invests in distressed assets that derive their principal risk and return from residential mortgages or residential real estate and which are oversold due to market technical factors.
WyeTree is currently investing in U.S. subprime mortgage-backed securities and subprime mortgages, but it is expected to eventually invest in mortgages outside the U.S., as well as in securities backed by home loans rated higher than subprime. The vehicle may also invest in other distressed assets.
In addition to providing WyeTree with long-term strategic capital, SkyBridge Capital will seek to enhance its investment in WyeTree by providing business-building support.
SkyBridge Capital’s investment is being made from its SkyBridge Capital II Fund. In aggregate, SkyBridge Capital and its underlying managers currently have approximately $1.5 billion under management.
WyeTree was founded in 2007 by two securitization specialists: Michael Chacos, chief executive officer, and Judith Sciamma, portfolio manager.
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…