Bridge Launches Agency MBS Strategy
NEW YORK--(BUSINESS WIRE)-- Bridge Investment Group (“Bridge”), one of the largest private equity real estate managers with over $20 billion of assets under management, announced today the launch of their Open-Ended Agency Mortgage-Backed Securities strategy via the Bridge Agency MBS Fund Manager LLC (“Bridge Agency MBS”).
The strategy is led by Chief Investment Officer Mohit Chandarana, who joined Bridge in September 2019 to expand Bridge’s real estate-backed fixed income strategies franchise. Prior to joining Bridge, Mr. Chandarana managed Fannie Mae’s Agency MBS and Collateralized Mortgage Obligations portfolio.
Bridge Agency MBS invests in residential mortgage-backed securities (“Agency MBS”) that are guaranteed by a U.S. Government Sponsored Entity (“GSE”), with a proprietary strategy designed to mitigate market dislocations and preserve principal. The GSE guarantee of principal and interest mitigates underlying borrower credit risk in the Agency MBS market.
“Mohit’s extensive expertise and leadership in the Agency MBS market, including in the creation of the reperforming loan MBS program, uniquely positions Bridge to systematically select assets, create stable returns through interest rate hedging, and deliver above market, risk-adjusted returns through the use of prudent leverage,” said Robert Morse, Executive Chairman of Bridge Investment Group.
Mr. Chandarana is supported by Krishna Gudavalli, with whom he has worked with for 16 years. Mr. Gudavalli joined Bridge as a Managing Director and will be responsible for the hedging and portfolio management activities. Prior to joining Bridge, Mr. Gudavalli served as the Senior Director, Capital Markets at Fannie Mae where he led the hedging and market risk management activities.
Via Bridge’s subsidiary Bridge Agency MBS Fund Manager LLC, Bridge has already raised capital to create a greater than $600 million diversified portfolio. In an environment of low structural interest rates, the ability to create exposure using highly-liquid underlying investments has proven very attractive in the institutional investment market.
About Bridge Investment Group
Bridge Investment Group is a privately-held real estate investment management firm with $20.2 billion in assets under management. Bridge combines its 3,600+ person, nationwide operating platform with specialized teams of investment professionals focused on select U.S. real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, affordable housing, opportunity zones, and debt strategies. For more information, visit https://www.bridgeig.com/.
Bridge Investment Group
Source: Bridge Investment Group
Released July 7, 2020