Oxford Funding Corp. has signed a letter of intent to acquire $40 million in new properties into its hedge fund, The Oxford Opportunistic Mortgage Fund, Ltd.
The assets are being acquired from ARCOA Capital Partners, LP, a Houston-based investment company. Larry Ramming, Managing Partner of ARCOA, stated, "We expect Oxford to manage and maximize these assets for us as the economy turns around. This should be a win-win for both our investors and Oxford's shareholders."
Oxford plans to manage this portfolio of properties to maturity or sale. CEO Ron Redd said, "We expect this to be the first step in a series of profitable asset acquisitions over the next several months. We have demonstrated our ability to help Americans stay in their homes and protect equity values while making attractive returns for our company," Redd added. "This is a big step forward in our plan to build value for our shareholders by acquiring assets at attractive values and managing them to realize profits," he concluded.
Oxford Funding is an asset resolution company, engaging in the purchase and management of bulk mortgage loan portfolios in the United States. It buys loan portfolios secured by real estate on a wholesale basis at discounts to face value, and resells the assets on a retail basis with margins. The company acquires mortgage portfolios from banks, mortgage companies, and lenders; restructures and services the loans; and then re-packages the loans for resale. It also acquires performing, under-performing, and non-performing loans.
8 Dec 2008
Canada's Hedge Funds Care Group Raise $150K for Kids
Canada's hedge fund industry gathered in November to raise $150,000 in support of Hedge Funds Care Canada (HFCC), dedicated exclusively to the treatment and prevention of child abuse and neglect.
"The Canadian hedge fund industry is particularly devoted to philanthropic causes, and this cause resonates, even more so in these difficult economic times," said Corey Goldman, President and Director of Hedge Funds Care Canada. "Hard times bring stress, and stress causes pain but there is no reason that any child should be exposed to physical or psychological trauma, maltreatment or neglect."
HFCC is part of a larger alliance of hedge fund industry professionals that comprise New York-based Hedge Funds Care, including prime brokers, attorneys, accountants, information providers, investors and managers. They have raised approximately $31 million through annual benefits in Toronto, New York, San Francisco, Chicago, Atlanta, Boston, Denver, London and the Cayman Islands.
"The Canadian hedge fund industry is particularly devoted to philanthropic causes, and this cause resonates, even more so in these difficult economic times," said Corey Goldman, President and Director of Hedge Funds Care Canada. "Hard times bring stress, and stress causes pain but there is no reason that any child should be exposed to physical or psychological trauma, maltreatment or neglect."
HFCC is part of a larger alliance of hedge fund industry professionals that comprise New York-based Hedge Funds Care, including prime brokers, attorneys, accountants, information providers, investors and managers. They have raised approximately $31 million through annual benefits in Toronto, New York, San Francisco, Chicago, Atlanta, Boston, Denver, London and the Cayman Islands.
Experts Discuss Hedge Funds at "Fighting the Tape" Seminar
Top financial industry leaders and more than 200 attendees gathered in New York late last week discuss the volatile hedge fund market and provide insights on distressed funds.
Sponsored by global offshore law firm Walkers, the "Fighting the Tape" seminar included a wide variety of speakers offered a comprehensive look at the changes in the market over the past year, as well as predictions for what the alternative investment funds industry can expect in the months ahead.
The experts anticipate a new era of hedge fund regulation, greater flexibility and versatility in hedge fund offering documents, broader discretion for fund managers, and continued growth in many of the world's key economies such as China, India, Russia, Brazil, the Middle East, and South Korea.
Investment manager George Hall, founder and president of The Clinton Group gave his personal views on the financial crisis and what the market might see under President-elect Barack Obama. While he felt it was too early to say how the "Obama factor" might influence the hedge fund industry, Mr. Hall said that he hoped the new President would make good choices when selecting his Treasury Secretary and a leader for the SEC.
"The true impact of the US credit crisis will not be tangible for many months to come," Yolanda McCoy, head of the Investments and Securities Division at the Cayman Islands Monetary Authority (CIMA) said, although she was able to confirm that to date they were aware of a total of 340 Cayman funds that had been impacted by the problems with Lehman Brothers, Merrill Lynch, and AIG, with more than 200 of those affected by issues with Lehman.
Professor Jeffrey Rosensweig, director of the Global Perspectives Program at Goizueta Business School at Emory University, closed the seminar with insights into the investment opportunities presented by this current stage in the cycle, shifting the focus from New York and London to emerging markets such as Brazil, Russia, China, the Middle East and India.
"The world adds 100 people every 42 seconds," Professor Rosensweig said, "and 98% of that population growth is in the emerging markets." Pointing to the expectation of long-term continued economic expansion in these regions, Professor Rosensweig said this massive population growth, combined with a move out of poverty in these regions, presents real future opportunities for investors.
Sponsored by global offshore law firm Walkers, the "Fighting the Tape" seminar included a wide variety of speakers offered a comprehensive look at the changes in the market over the past year, as well as predictions for what the alternative investment funds industry can expect in the months ahead.
The experts anticipate a new era of hedge fund regulation, greater flexibility and versatility in hedge fund offering documents, broader discretion for fund managers, and continued growth in many of the world's key economies such as China, India, Russia, Brazil, the Middle East, and South Korea.
Investment manager George Hall, founder and president of The Clinton Group gave his personal views on the financial crisis and what the market might see under President-elect Barack Obama. While he felt it was too early to say how the "Obama factor" might influence the hedge fund industry, Mr. Hall said that he hoped the new President would make good choices when selecting his Treasury Secretary and a leader for the SEC.
"The true impact of the US credit crisis will not be tangible for many months to come," Yolanda McCoy, head of the Investments and Securities Division at the Cayman Islands Monetary Authority (CIMA) said, although she was able to confirm that to date they were aware of a total of 340 Cayman funds that had been impacted by the problems with Lehman Brothers, Merrill Lynch, and AIG, with more than 200 of those affected by issues with Lehman.
Professor Jeffrey Rosensweig, director of the Global Perspectives Program at Goizueta Business School at Emory University, closed the seminar with insights into the investment opportunities presented by this current stage in the cycle, shifting the focus from New York and London to emerging markets such as Brazil, Russia, China, the Middle East and India.
"The world adds 100 people every 42 seconds," Professor Rosensweig said, "and 98% of that population growth is in the emerging markets." Pointing to the expectation of long-term continued economic expansion in these regions, Professor Rosensweig said this massive population growth, combined with a move out of poverty in these regions, presents real future opportunities for investors.
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