The Business Times
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Hedge funds exiting housing mortgage debt as prices rise

Returns at funds buying securities averaged 10.2% last year, down from 13% in 2013

Published Thu, Feb 12, 2015 · 09:50 PM

Boston

HEDGE funds that profited on residential mortgage debt after the financial crisis such as Pine River Capital Management and Canyon Partners are trimming their bets as prices rise.

Gorelick Brothers Capital is also exiting investments in both uninsured and government-backed home loan securities. The firm is seeking higher returns by raising a private equity fund to buy single-family rental houses, said Rael Gorelick, a co-founder of the firm.

Hedge funds

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