Vertical Capital preps liquid RMBS fund

By Lawrence Delevingne

Wed Aug 21, 2013

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The mortgage focused firm is expanding beyond a strict private equity structure.


   
   Miriam Freier (Photo: Vertical)
Vertical Capital is preparing to launch a more liquid version of its successful four-year-old residential mortgage backed securities fund.

The Resolution Credit Opportunities Fund II is set to launch September 1 and will use a hybrid hedge and private equity fund structure to invest in non-agency residential mortgage-backed securities. The fund will focus on subprime and other mezzanine tranches of RMBS to "capitalize on inefficient pricing and improving housing fundamentals," according to marketing materials. 

Firm co-founder Brett Graham and partner Beth Ferraro are the fund's portfolio managers. Ferraro joined the firm in 2004. She was previously a portfolio manager for structured fixed income...

ISSN: 2151-1845 / CDC10004H

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