The new vehicle will require a two-year lockup.
Angelo, Gordon & Co. is planning to launch a mortgage fund on March 1 to invest in residential and commercial mortgage-backed securities and asset-backed securities.
The $22 billion New York firm is hoping to launch the new fund with $300 million, and will require investors to sign on to a two-year lockup. The fund will be managed by Jonathan Lieberman and Andrew Solomon, who specialize in RMBS and CMBS, respectively.
Lieberman, who joined the firm in 2008 as head of its residential mortgage securities business, manages the $475 million Mortgage Value Partners hedge fund, a RMBS-focused fund