Reuters India – SkyBridge Capital, a firm that provides money for early-stage hedge funds, on Friday said it invested $50 million (33 million pounds) 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.
