One year ago
>> Angelo, Gordon & Co. planned to launch a mortgage fund on March 1 to invest in
residential and commercial mortgage-backed securities and
Investor demand for exposure to asset-backed
securities was, and is, strong. The AG Securitized Asset
Recovery Fund, which is a closed-end vehicle, had a target of
$300 million but expanded that to $550 million to meet investor demand. In a
mixed year for fundraising, that put the new vehicle among the
top 15 new funds, by assets, to launch in 2012.
Five years ago
>> Peloton Partners, the London and
California-based hedge fund group headed by Ron Beller and
Geoff Grant, decided to liquidate its formerly high-performing
Peloton ABS credit fund.
The highly-leveraged fund scored big gains early
on, returning nearly 87% in 2007 before suffering from a
dramatic reversal in its long mortgage bets.
Co-founders Ron Beller and Geoff Grant went
separate ways. Beller founded Branch Hill Capital, a
financials-focused long/short equity fund in San Francisco that
produced a net annualized return of about 20% from its August 2010 launch through
early 2012. More recent returns were not available.
Beller's LinkedIn profile lists affiliations with
several educational endeavors. Among these, he is a co-founder of Caliber Schools, and partner at
Ed-Mentor, which the profile describes as an "Ed-Tech
Investment Fund." He declined to comment.
Grant launched Grant Capital Partners in 2009 to
trade interest rate derivates, currencies and other liquid
instruments. The flagship Liquid Macro fund, was down 6.2%
through October 2012, and Grant decided to close it down citing the lack of an
"edge," according to the Financial Times. The
fund had reportedly generated a total return of 7.39% since
"Going to trek to Everest base camp in April,"
wrote Grant in an email when asked about his plans. "Pretty
much done with the business at this point -- 32 years seems
like enough. Too old a dog to learn the new tricks!"