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Angel Oak Capital Advisors raises USD300m for private credit fund

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Angel Oak Capital Advisors (Angel Oak), an investment management firm specialising in mortgage credit, has raised USD291 million in capital commitments for its first private credit fund. 

Having exceeded the initial fundraising goal of USD250 million, the Angel Oak Real Estate Investment Fund I is now closed to new investors.

The Fund, which invests primarily in non-qualified mortgages (Non-QM), provides investors access to the growing opportunity in non-bank lending to creditworthy borrowers who have been unable to obtain residential mortgages since the credit crisis.

Angel Oak is well positioned in the private residential mortgage market given the firm’s expertise in non-agency mortgage credit and its vertical integration with its affiliated mortgage companies. The firm manages over USD3.5 billion in residential mortgage credit (loans and securities), and has securitised USD850 million in Non-QM loans since 2015. Additionally, its affiliated mortgage companies originated over USD1 billion in Non-QM loans in 2017.

“More and more, we’ve seen institutional investors recognise the growth potential for non-bank lending,” says Sreeni Prabhu, Co-CEO and Chief Investment Officer of Angel Oak. “Our success in raising capital for Angel Oak Real Estate Investment Fund I demonstrates strong investor interest in the Fund’s differentiated strategy to provide attractive, risk-adjusted returns backed by residential real estate. We believe this opportunity, when paired with our expertise in non-agency mortgage credit, makes this an attractive investment.”

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