While the legacy beta trade earned significant returns for many investors, the $10 trillion mortgage market remains broken. Dislocation persists -- caused by the Financial Crisis, regulatory burdens, and substantial barriers to entry.
Private Capital Is Needed
Significant private capital is needed for credit creation and to restructure the U.S. mortgage market
Out-Sized Returns Will Be Earned
We believe that private capital that addresses this issue thoughtfully and early will earn out-sized returns in exchange for helping establish the market
Keys To Realizing Success
The keys to success include:
1. Highly skilled team with deep experience in up and down cycle 2. Robust platform for sourcing and creating investments 3. Disciplined credit underwriting 4. Portfolio structured and managed around highest conviction ideas 5. Deeply ingrained culture of risk management and respect for markets