11 Years, $10B in AUM, and On the Hunt
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Friday, May 24, 2019

11 Years, $10B in AUM, and On the Hunt

The team at an 11-year-old fixed income shop is on the hunt.

Sreeni Prabhu
Angel Oak Capital
Managing Partner, Co-Founder, Co-CEO
Angel Oak Capital Advisors [profile] is "absolutely ... going to be looking at a strategy to lift out or adopt funds from other platforms," confirms Sreeni Prabhu, co-founder, managing partner, and co-CEO of the asset manager. Angel Oak specializes in U.S. fixed income, and Prabhu is particularly interested in strategic moves that would bring on other U.S. credit strategies and teams, especially in structured credit.

The Angel Oak team is open to fund adoptions (paired with hiring the old firm as subadvisor), team lift outs, and even outright unit or firm acquisitions, Prabhu says.

"Nothing's off the table," Prabhu tells MFWire.

Launched in 2008, the Angel Oak asset management business now has about $10 billion in AUM and more than 70 people. In addition to mutual funds, they offer hedge funds, "private credit funds" (their version of private equity funds), UCITS, and an interval fund).

The firm is "one of the largest investors in the non-qualified mortgage market," Prabhu notes, and a sister organization within the Angel Oak Companies is "the largest lender of non-qualified mortgages around the country." That market, he adds, has essentially been rebuilding from scratch since the financial crisis.

Looking ahead, Prabhu plans to add more PMs and quantitative analysts.

"We continue to build our infrastructure," Prabhu says. "We have so much data."

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