Hedge Funds

James Caird targets the US residential mortgage-backed securities market with new private equity-style vehicle

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JCAM Mortgage Opportunities Fund aims to provide good cashflow and returns, while factoring in a possible reversal of the US housing market

James Caird Asset Management, the $2.5 billion multi-strategy credit and equity hedge fund group led by Tim Leslie that span out from Moore Capital in 2008, is launching its second private equity-style vehicle targeting specific opportunities in the global credit markets.

The new JCAM Mortgage Opportunities Fund, which will launch in November, will invest in a highly specific portfolio of US residential mortgage-backed securities with the overall aim of providing an investment that should produce excellent cashflows and returns for investors – while also benefitting in the event that the recovery of the US housing market and the