Ellington Talks About Ameriquest Acquisition

Jan 11 2007 | 9:32am ET

Times are tough for sub-prime mortgage lenders, so the price may be right for hedge funds.

Ameriquest, one of the country’s largest sub-prime mortgage lenders, has engaged JPMorgan Securities to shop it to potential buyers, including to fixed-income hedge funds, according to Asset Securitization Report.

One of the potential buyers approached was Old Greenwich, Conn.-based residential mortgage bond hedge fund Ellington Capital Management. The New York Post reports that the JPMorgan bankers gauged the fund’s interest, but that Ellington hasn’t decided if it wants to move forward and receive an offering circular.

Ellington has some $4.5 billion in assets under management, two-thirds of which is in mortgage bonds.


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

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...