Premium Point invests in home-rental industry
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Washington
PREMIUM Point Investments LP bought an Atlanta-based landlord and property manager as the US home-rental industry continues to draw investors after gains of almost 30 per cent in real estate values.
The US$1.7 billion hedge fund and private-equity firm run by Anilesh Ahuja, 45, the former head of residential mortgage-backed securities at Deutsche Bank AG, acquired a majority stake in Residential Capital Management (RCM), the company said on Tuesday. The firm has bought more than 6,000 houses for private equity firms in Florida, Georgia and Tennessee and managed more than 7,200 since its 2010 founding.
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