Ellington Management Group

Happy Holidays from the Ellington Management Group team! As we reflect on 2024, we are grateful for the continued confidence and support of our clients, partners and employees. Wishing all a joyous holiday season and health, happiness and success in the New Year. #SeasonsGreetings #HappyHolidays

Bloomberg’s Carmen Arroyo Nieto recently spoke with Ellington Management Group’s Head of Commercial Real Estate Debt, Leo Huang, to discuss the dispersion among SASB credit bonds, the opportunity he is seeing to purchase distressed CMBS assets, and rating agencies’ impact on the market.   Read the full article here: https://lnkd.in/eNEf7e_c   #CMBS #CRE #StructuredFinance #Credit

Ellington Management Group is pleased to announce that a fund managed by the firm has won the “Credit - Newcomer” award at With Intelligence’s HFM US Performance Awards.    The HFM US Performance Awards aim to recognize exceptional talent across the hedge fund industry and we are proud to be part of this year’s esteemed group of award recipients. We are thankful to our employees for their deep commitment to protecting and growing institutional capital across credit cycles, and to our clients for their unwavering support.   Congratulations to all firms recognized!   #HFMUSPerformanceAwards #WithIntelligence #PrivateCredit #Investing Per HFM, the following criteria were required to be met in order to be considered for this award, Credit - Newcomer. Funds must have their management/advisory company or team based in the US or Canada with monthly performance data for their USD share class. Funds submitting for newcomer must have a minimum of $10m in AuM as of June 2024 and a track record of monthly performance data of at least 12 months and less than 36 months (that is between 12 and 35 months) through June 2024. We were not made aware of the total number of submissions. Ellington did not pay any fees or other forms of compensation to HFM to be considered for this award. Readers should consider this information when weighing the value of this award when making investment decisions

Insurance firms are increasingly adopting an unconventional strategy: buying residential mortgage loans outright, reports Bloomberg.   In a recent interview with Bloomberg’s Scott Carpenter, our Head of Insurance Strategies, Douglas P. Dupont, CFA, discussed the appeal of owning whole loans, the significant growth in insurers owning these assets, and the specialization and sophistication required to manage them.   We invite you to read the full article here https://lnkd.in/gi-5azZT and to learn more about Ellington Management Group Insurance Solutions by contacting investor@ellington.com.   #Insurance #Mortgages #Loans #Investing

As the Federal Reserve delays rate cuts, investors are revisiting distressed-debt strategies within real estate, writes MarketWatch’s Joy Wiltermuth.   Ellington Management Group’s Head of Commercial Real Estate Debt Leo Huang emphasizes the expected shifts in the commercial real estate sector: "I think there are hundreds of billions of dollars of debt that will change hands, a lot in office, but not all of it.”   Read the full story here (subscription may be required): https://lnkd.in/gzTKv8sF    #CommercialRealEstate #FinancialMarkets #MarketInsights

In 2024, owners of big U.S. office buildings will struggle to refinance $117 billion of commercial mortgages, many of which were taken out a decade ago when interest rates were lower, writes the Financial Times’ Stephen Gandel.   Ellington Management Group’s Head of Commercial Real Estate Debt, Leo Huang, spoke with the Financial Times about the wall of debt facing office owners in the U.S., and specifically how office loans on bank balance sheets could cause problems for the regional banks holding them.   Read the full article about the state of the commercial real estate market here (subscription may be required): https://lnkd.in/d4AwPVJ7   #CommercialRealEstate #Mortgages #FinancialMarkets #MarketInsights