Fund launches & closures Hedge Funds

Stark launches fund targeting worldwide mortgage debt

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The Wisconsin firm hopes to raise $100 million for new strategy by end of April.

  
 
  Stark senior PM Donald Bobbs
Stark Investments, the $2.4 billion multistrategy Wisconsin firm, has launched a new mortgage bond fund as the multiyear slide in its assets begins to taper off.

The Stark Mortgage Opportunities Fund is already trading with approximately $40 million, and hopes to reach $100 million by the end of April, according to a person familiar with the firm. Its mandate includes U.S. and foreign residential and commercial mortgage-backed securities as well as related derivatives. Several other managers have been marketing similar products in recent months, including Angelo, Gordon &