MountainView Capital Holdings LLC, headquartered in Denver, has announced the initial closing of the MountainView Mortgage Opportunities Fund LP. As of the initial closing, the fund had raised approximately $80 million – primarily from qualified institutional investors.
The fund expects to invest in performing and subperforming first-lien residential mortgage loans in the secondary market. Loans that are classified as Alt-A or subprime will be the primary focus of the fund. The fund plans to employ a buy and hold strategy, taking advantage of the significant discounts available in today's secondary mortgage market.
MountainView intends to leverage its long-standing sales and trading relationships in the market to source loans on behalf of the fund and will serve as the general partner of the fund, the company says. Prodovis Mortgage LLC will initially service all loans acquired by the fund.
Source: MountainView Capital Holding LLC