Deepak Narula rose to fame as manager of the best-performing hedge fund last year by navigating the government’s stimulus efforts. He’s having a harder time as the Federal Reserve moves closer to an exit.
Gary Kain built American Capital Agency Corp. into the fastest growing real estate investment trust as the Federal Reserve pushed borrowing costs to record lows. Now he’s trying to persuade investors to stay with him as he navigates the central bank’s retreat.
Gary Kain spent 20 years at Freddie Mac managing as much as $800 billion of bonds before the U.S. took over the company. Since 2009, he’s used his knowledge of the home-loan market to help turn American Capital Agency Corp. into the fastest growing mortgage debt investor.
American Capital Agency Corp., the second-largest real estate investment trust that buys mortgage debt, raised $1.58 billion in a stock sale, as wider relative yields on government-backed bonds revive growth in an industry whose expansion has drawn Federal Reserve officials’ attention.
Anton Valukas, the examiner who wrote a 2,209-page report about the downfall of Lehman Brothers Holdings Inc. , will ask the bankruptcy judge at a June 17 hearing to give him a release, prevent anyone from suing him and his lawyers, and prohibit anyone from calling him as a witness.