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