Launches & Closures Hedge Funds

Pequot raises capital for second mortgage fund


Following the initial success of Pequot Matawin mortgage opportunities fund, which closed in early September, Pequot Capital is in the market with a similar vehicle, targeting $500 million in assets.

The first Pequot Matawin fund has $409 million in committed capital, according to recent marketing documents. Some $311 million of that has been invested to date in 19 mortgage pools, with another $70 million earmarked for two upcoming mortgage pools. From May 30 through September 30, the fund netted 5%.

Like Matawin, Matawin II will invest in whole loans selected by bottom-up, fundamental research. Pequot expects to source the loans