(Reuters) - Black Pearl, co-founded by Jim Midanek and John Pak in 2002, will invest up to $500 million in mortgage securities that have been tarnished amid increased risk-aversion in the sector, the managers said in a statement. The subprime market is approaching a point where "widespread price dislocation" is likely, Pak said in the statement.
"Investors need to position capital now to participate in this tactical trade," Midanek said in the statement. "The investment phase of this cycle is nearly upon us."
Read more at Reuters.com Bonds News
"Investors need to position capital now to participate in this tactical trade," Midanek said in the statement. "The investment phase of this cycle is nearly upon us."
Read more at Reuters.com Bonds News
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