Axonic launches mortgage fund with $150 million
January 13, 2011
Former Goldman Sachs mortgage trader and Army Captain Clay DeGiacinto is hungry to take advantage of a still tumultuous housing market.
Structured credit shop Axonic Capital has launched with $150 million and hopes to raise as much as $1 billion from investors seeking to profit from continued uncertainty in the U.S. mortgage market.
Founder and chief investment officer Clay DeGiacinto was most recently portfolio manager for a structured products fund at Tower Research Capital, a quantitative hedge fund in New York. DeGiacinto ran Split Level at Tower, a private investment fund that used the same strategy—and...
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