SkyBridge invests $50 million in UK manager WyeTree
NEW YORK, May 8 (Reuters) - SkyBridge Capital, a firm that provides money for early-stage hedge funds, on Friday said it invested $50 million in WyeTree Asset Management Ltd, a London-based fund focused on distressed mortgage securities.
WyeTree seeks out distressed residential mortgage assets that may be oversold for technical reasons, SkyBridge said. WyeTree is currently investing in U.S. subprime mortgages, but in time will also seek assets in other markets. (Reporting by Joseph A. Giannone, editing by Leslie Gevirtz)
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