mast image

Special Report

Impact investing

Sections

ABP/State Street venture makes first investment

Related Categories

EUROPE/US – State Street Global Alliance, the jointly owned subsidiary of the e150bn Dutch civil service pension fund ABP and State Street Global Advisors (SSgA), has bought a major interest in Washington based Residential Capital Management, a recently formed US asset management firm providing managed portfolios of non-conforming residential mortgages.

The investment is the first by the Global Alliance venture since it was formed by ABP and State Street in February this year with the aim of investing seed capital in fledgling specialist asset management firms.

Residential Capital Management was the first US asset management firm to offer institutional investors an actively managed approach to the, so called, non-conforming residential mortgages.
These are offered to borrowers who do not have a high enough credit limit to conform to US standards.
The mortgages usually have an interest rate around 2-4 percentage points higher than normal loans, making them attractive to investors.

Other asset managers within the alliance include Advanced Investment Technology, US equity quantitative fund manager located in Clearwater, Florida; Boston Capital Management, a holding company for Pallada Asset Management, a Moscow based fund manager; Rexiter Capital Management, a London based active fundamental emerging markets manager and the Tuckerman Group, a manager of real estate investment portfolios based in Purchase, New York.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<