The fund was founded in December by former Deutsche Bank mortgage-bond trader Troy Dixon. According to a source, HFMWeek said, the fund is expected to be over-subscribed by $25m from its initial $200m target due to demand from family offices and institutions.
Once the fund reopens, investors in its founders share class will have a chance to double their investment based on an as-yet undetermined new fee option, the source added. Reports from last month quoting marketing literature for the fund said that Hollis Park would trade the entire suite of products within the structured mortgage finance space. Dixon spent eight years at Deutsche Bank before forming Hollis Park. Staff for the new firm include Joseph Valentine, a former co-head of CRT Capital Group securitised-products group, and Douglas Adelman, also part of the investment team.
Glenn Morrison, former head of operations and compliance at True North Partners, has joined as COO with Ajai Thomas, most recently a VP for sales and relationship management at Deutsche Bank Alternative Fund Services, is head of investor relations. Additional details were not available. A Hollis Park spokesperson declined to comment.
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