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Illinois HF Raises $370M to Invest in Mortgage Debt

Mar 13, 2013
Jing Chen

Hedge fund firm Magnetar Capital has raised $370 million to bet on mortgage bonds.

Bloomberg reported that Illinois-based Magnetar, which profited from subprime defaults in 2007 after helping create collateralized debt obligations, raised the money in two funds that were started last year.

The article added that Goldman Sachs Group, Cerberus Capital Management and Canyon Partners are among firms who have raised money in 2012 for mortgage-bond funds.

Headed by chief executive officer Alec Litowitz, Magnetar manages about $9 billion in assets and focuses on fixed-income and energy investments.

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