BusinessWeek – Cheyne Capital Management (U.K.) LLP, a hedge fund firm which oversees $5.5 billion, is betting on an improvement in Britain’s real estate market.
Cheyne is boosting the allocation of lower-rated mortgage debt in its Queen’s Walk Investment Ltd. fund in expectation home-loan defaults will continue to decline, partner Shamez Alibhai said in an interview. Queen’s Walk invests most of its 120 million euros in mortgage-backed securities.
