They are raising money for a new fund that will buy home-loan bonds to benefit from an improving real estate market in the U.S. Housing Recovery Fund is expected to finish its first round of capital raising and open April 1 to a marketing document obtained by Bloomberg News will focus on senior-ranked securities without government backing to many of which now carry junk credit grades.
And the stabilization in U.S. housing fundamentals is creating an attractive investment opportunity in the New York-based bank said in the document dated this month for the many of the ingredients are in place for continued improvement in housing to near-record affordability of a better supply-and-demand balance and policy makers renewed focus on bolstering real estate.
The goldman sachs asset management is joining hedge-fund managers Kyle Bass and Metacapital Management in seeking cash for new mortgage funds to following firms including Cerberus Capital Management, CQS U.K. and Canyon Partners that started similar investment pools after prices slumped last year in Values in the $1.1 trillion market for so-called non-agency mortgage securities are soaring this year after Europe's sovereign-debt crisis eased and the Federal Reserve was able to sell $19.2 billion of the notes to underscoring demand.
And the stabilization in U.S. housing fundamentals is creating an attractive investment opportunity in the New York-based bank said in the document dated this month for the many of the ingredients are in place for continued improvement in housing to near-record affordability of a better supply-and-demand balance and policy makers renewed focus on bolstering real estate.
The goldman sachs asset management is joining hedge-fund managers Kyle Bass and Metacapital Management in seeking cash for new mortgage funds to following firms including Cerberus Capital Management, CQS U.K. and Canyon Partners that started similar investment pools after prices slumped last year in Values in the $1.1 trillion market for so-called non-agency mortgage securities are soaring this year after Europe's sovereign-debt crisis eased and the Federal Reserve was able to sell $19.2 billion of the notes to underscoring demand.
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