Bloomberg – CQS U.K. LLP, the $11.2 billion money-management firm founded by Michael Hintze, is starting a hedge fund to trade mortgage-backed securities after the value of the assets tumbled last year.
The CQS ABS Alpha Fund started with $140 million this month, and investors have pledged additional capital to bring the fund to $200 million by April, according to a Feb. 2 letter sent to clients and obtained by Bloomberg News. CQS is limiting additional investments in the fund because “further inflows will be contingent on market opportunity,” the letter said.
