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

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...