News
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400 Capital Management
Latest News and Press Releases
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Legacy Subprime Mortgages Seen as Gift That Keeps Giving
In the aftermath of the financial crisis, a $60 million slice of subprime mortgage bonds from 2007 traded hands for as little as two cents on the dollar. Now, they’re higher than 90 cents.
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Hedge fund assets increase 18.4% to $1.338 trillion
Hedge funds with an institutional orientation produced exceptionally strong net asset growth of 18.3% in the year ended June 30. Aggregate assets managed worldwide in single and multistrategy hedge funds by the 113 firms in Pensions & Investments’ universe totaled $1.336 trillion as of June 30.
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Freddie Mac Enhances Seasoned Loans Structured Transaction Program
Freddie Mac (OTCQB:FMCC) today completed an auction of subordinate non-guaranteed certificates (the “Subordinate Certificates”). The Subordinate Certificates will be issued by Freddie Mac Seasoned Loans Structured Transaction (SLST), Trust 2018-1, which will also issue guaranteed senior certificates (the “Senior Certificates”). The Senior and Subordinate Certificates will be backed by 2,617 seasoned re-performing loans (RPL) and moderately delinquent loans serviced by Nationstar Mortgage LLC, d/b/a Mr. Cooper.
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Builder Capital, LLC and 400 Capital Management Announce Strategic Partnership and First Acquisition
Builder Capital, LLC (“Builder Capital”) announced today the acquisition of 67 acres in Phoenix, AZ (the “Property”) pursuant to a rolling lot option contract with Garrett Walker Homes (“Garrett Walker”). Builder Capital acquired the Property through a strategic partnership with affiliates of 400 Capital Management (“400 Capital”) formed to provide capital to production homebuilders for the acquisition and development of single family residential lots nationwide.
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Distressed-Debt Investors See Meager Returns in 2017 Amid Scarcity of Opportunities
Distressed-debt funds are about to close out the year with meager returns as junk bond and leveraged-loan investors continued to bail out many troubled companies. Average returns for hedge funds focusing on distressed debt fell to 4.7% year-to-date, from 15.15% during the same period of 2016, according to Hedge Fund Research.