Cerberus mortgage chief: Investment opportunity a “perfect storm”

By Lawrence Delevingne

Mon Jul 23, 2012



Josh Weintraub talks to AR about the RMBS market.


Josh Weintraub (Photo: Cerberus)
Mortgage investing is one of the hottest hedge fund strategies, with dedicated funds launching and large multistrats allocating in large numbers. Fittingly, it has been the best performing strategy in the industry so far this year: hedge funds that employ an MBS strategy are up an average of 6.43% through June, according the AR database. That compares to a composite return across all strategies of 2.65%.

AR asked Josh Weintraub, head of RMBS securities and trading at Steve Feinberg’s $20 billion Cerberus Capital Management, to discuss the firm’s approach to RMBS investing and opportunities in the market. Weintraub—who will be speaking at the upcoming Absolute Return Symposium—directs the Cerberus RMBS Opportunities Fund, which has grown to $1.17 billion as of July 1 after launching in August 2011 with $188 million. The fund is up 7.79% net of fees for the year through June, according to...

ISSN: 2151-1845 / CDC10004H

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