Angel Oak Capital Advisors has revealed an “ambitious” capital raise intended to increase its market share in the non-agency mortgage space.
The firm announced Thursday that it amassed approximately $1 billion in capital this year, with the cash allocated for non-agency mortgage originations. Angel Oak’s plan is to generate around $20 billion of non-agency mortgages over the next two or three years.
“Our non-agency investment strategies provide institutional investors with access to the residential mortgage market and, importantly, diversification within their private credit portfolios away from corporate credit,” said Manish Valecha, head of client solutions at Angel Oak Capital. “We believe owning the junior bonds from AOMT securitizations makes for a compelling investment, especially in a zero-bound environment.”