ATLANTA--(BUSINESS WIRE)--Angel Oak Capital Advisors, LLC (“Angel Oak”), an investment management firm specializing in mortgage credit, has raised $291 million in capital commitments for its first private credit fund. Having exceeded the initial fundraising goal of $250 million, the Angel Oak Real Estate Investment Fund I, LP (“the Fund”), 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 $3.5 billion in residential mortgage credit (loans and securities), and has securitized $850 million in Non-QM loans since 2015. Additionally, its affiliated mortgage companies originated over $1 billion in Non-QM loans in 2017.
“More and more, we’ve seen institutional investors recognize the growth potential for non-bank lending,” said 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.”
About Angel Oak Capital Advisors, LLC
Angel Oak Capital Advisors is an investment management firm focused on providing compelling fixed income investment solutions for its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to deliver attractive risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks the best opportunities in fixed income with a specialization in mortgage-backed securities and other areas of structured credit.
As of Dec. 31, 2017, Angel Oak Capital had approximately $8 billion in assets under management across its mutual funds, private funds and separately managed accounts.
For more information, please visit www.angeloakcapital.com.
This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities. The securities described herein have not been and will not be registered under the Securities Act of 1933, as amended, and, accordingly, any offer or sale of the securities in the United States or to U.S. persons may be made only in a transaction exempt from the registration requirements of the Securities Act unless and until they are registered for sale in the United States.