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{{expert-subject|1=Finance|date=January 2014|reason=The article doesn't cover Pine River Capital's most critical contribution to securitization. In 2009 it was the first to form a REIT that was formed through a merger with a special purpose acquisition company. The subject Pine River is insufficiently covered on this note and its contributions towards shaping the current MBS market as it exists today were real and substantial. This article wasn't written in a way that covers the subject properly. It needs an expert on the subject}}
{{expert-subject|1=Finance|date=January 2014|reason=In 2009, Pine River Capital was the first to form a REIT through a merger with a special purpose acquisition company. This article wasn't written in a way that covers the subject properly.}}


'''Pine River Capital Management L.P.''' is an [[asset management]] firm.<ref name=reuters>{{cite web|url=http://www.reuters.com/article/2010/03/05/us-funds-summit-pinerivercapital-idUSTRE6244M120100305|title=Pine River housing bets started in cabin|author=Svea Herbst-Bayliss|date=Mar 5, 2010|publisher=Reuters|accessdate=Dec. 30, 2013}}</ref><ref name=forbes2>{{cite web|url=http://www.forbes.com/sites/danielfisher/2013/03/27/sublime-subprime/|title=Sublime Subprime|publisher=Forbes|date=Mar. 27, 2013|author=Daniel Fisher|accessdate=Dec. 30, 2013}}</ref><ref name=bloomberg>{{cite web|url=http://www.bloomberg.com/news/2013-10-03/pine-river-s-kuhn-diversifies-to-bet-against-drunk-businessman-.html|title=Pine River’s Kuhn Diversifies to Bet Against ‘Drunk Businessman’|author=Mary Childs|publisher=Bloomberg News|date=Oct. 3, 2013|accessdate=Dec. 30, 2013}}</ref><ref name=money>{{cite web|url=http://money.cnn.com/2013/01/04/investing/hedge-funds-subprime-mortgages/index.html|title=Hedge funds win big with subprime mortgages|author=Maureen Farrell|date=Jan. 4, 2013|publisher=CNN Money|accessdate=Dec. 30, 2013}}</ref> The company invests and trades stocks, [[fixed income]], [[Derivative|derivatives]], and listed investment vehicles.<ref name=insider>{{cite web|url=http://www.insidermonkey.com/hedge-fund/pine+river+capital+management/354/|title=Hedge Fund - Pine River Capital Management|author=|publisher=Insider Monkey|date=|accessdate=Dec. 30, 2013}}</ref> The company is managed by founder and CEO Brian Taylor and 15 other partners.<ref name=barrons>{{cite web|url=http://online.barrons.com/article/SB50001424052748703679304577108623979477082.html#articleTabs_article%3D1|title=Cleaning Up In Mortgages|author=Karen Hube|date=Dec. 24, 2011|publisher=Barron's|accessdate=Dec. 30, 2013}}</ref><ref name=investor>{{cite web|url=http://www.institutionalinvestorsalpha.com/Article/3214067/Profiles-Manager-Profiles/Can-Mortgage-Mavens-Pine-River-Find-Success-in-Other-Markets.html|title=Can Mortgage Mavens Pine River Find Success in Other Markets?|author=Irwin Speizer|publisher=Institutional Investor's Alpha|date=Jun. 4, 2013|accessdate=Dec. 30, 2013}}</ref> Pine River was recognized by Institutional Investor as the Relative Value Hedge Fund Manager of the Year in 2012 and 2013.<ref name=hedge>{{cite web|url=http://www.hedgefundindustryawards.com/2012/default.php|title=Hedge Fund Industry Awards|author=|publisher=Institutional Investor|date=|accessdate=Dec. 30, 2013}}</ref> In 2009, the firm was the first to launch a $250 million [[real estate investment trust]] that was formed through a merger with a special purpose acquisition company.<ref name = iijournals>{{cite journal |last= Thetgyi |first= Olivia|last2= |first2= |date= Fall 2009 |title= MBS REIT First to be Formed Through SPAC Merger|url= http://www.iijournals.com/doi/abs/10.3905/JSF.2009.15.3.073?journalCode=jsf#sthash.8N39Uvww.a7vBCxdi.dpbs|journal= The Journal of Structured Finance|publisher= Institutional Investor Journals|volume= 15|issue= 3 |pages= 73-75|doi= 10.3905/JSF.2009.15.3.073|accessdate= 6 January 2014}}</ref><ref name = structuredfinancenews>{{cite web | url = http://www.structuredfinancenews.com/news/-199076-1.html | title = Deal Approved to Establish RMBS REIT | publisher = Structured Finance News | accessdate = 6 Jan. 2014}}</ref> The resulting entity was the first [[residential mortgage-backed security]] real estate investment trust.<ref name = housingwire>{{cite web | url = http://www.housingwire.com/articles/new-reit-targets-residential-mortgages | title = New REIT Targets Residential Mortgages | accessdate = 6 Jan. 2014}}</ref>
'''Pine River Capital Management L.P.''' is an [[asset management]] firm.<ref name=reuters>{{cite web|url=http://www.reuters.com/article/2010/03/05/us-funds-summit-pinerivercapital-idUSTRE6244M120100305|title=Pine River housing bets started in cabin|author=Svea Herbst-Bayliss|date=Mar 5, 2010|publisher=Reuters|accessdate=Dec. 30, 2013}}</ref><ref name=forbes2>{{cite web|url=http://www.forbes.com/sites/danielfisher/2013/03/27/sublime-subprime/|title=Sublime Subprime|publisher=Forbes|date=Mar. 27, 2013|author=Daniel Fisher|accessdate=Dec. 30, 2013}}</ref><ref name=bloomberg>{{cite web|url=http://www.bloomberg.com/news/2013-10-03/pine-river-s-kuhn-diversifies-to-bet-against-drunk-businessman-.html|title=Pine River’s Kuhn Diversifies to Bet Against ‘Drunk Businessman’|author=Mary Childs|publisher=Bloomberg News|date=Oct. 3, 2013|accessdate=Dec. 30, 2013}}</ref><ref name=money>{{cite web|url=http://money.cnn.com/2013/01/04/investing/hedge-funds-subprime-mortgages/index.html|title=Hedge funds win big with subprime mortgages|author=Maureen Farrell|date=Jan. 4, 2013|publisher=CNN Money|accessdate=Dec. 30, 2013}}</ref> The company invests and trades stocks, [[fixed income]], [[Derivative|derivatives]], and listed investment vehicles.<ref name=insider>{{cite web|url=http://www.insidermonkey.com/hedge-fund/pine+river+capital+management/354/|title=Hedge Fund - Pine River Capital Management|author=|publisher=Insider Monkey|date=|accessdate=Dec. 30, 2013}}</ref> The company is managed by founder and CEO Brian Taylor and 15 other partners.<ref name=barrons>{{cite web|url=http://online.barrons.com/article/SB50001424052748703679304577108623979477082.html#articleTabs_article%3D1|title=Cleaning Up In Mortgages|author=Karen Hube|date=Dec. 24, 2011|publisher=Barron's|accessdate=Dec. 30, 2013}}</ref><ref name=investor>{{cite web|url=http://www.institutionalinvestorsalpha.com/Article/3214067/Profiles-Manager-Profiles/Can-Mortgage-Mavens-Pine-River-Find-Success-in-Other-Markets.html|title=Can Mortgage Mavens Pine River Find Success in Other Markets?|author=Irwin Speizer|publisher=Institutional Investor's Alpha|date=Jun. 4, 2013|accessdate=Dec. 30, 2013}}</ref> Pine River was recognized by Institutional Investor as the Relative Value Hedge Fund Manager of the Year in 2012 and 2013.<ref name=hedge>{{cite web|url=http://www.hedgefundindustryawards.com/2012/default.php|title=Hedge Fund Industry Awards|author=|publisher=Institutional Investor|date=|accessdate=Dec. 30, 2013}}</ref> In 2009, the firm was the first to launch a $250 million [[real estate investment trust]] that was formed through a merger with a special purpose acquisition company.<ref name = iijournals>{{cite journal |last= Thetgyi |first= Olivia|last2= |first2= |date= Fall 2009 |title= MBS REIT First to be Formed Through SPAC Merger|url= http://www.iijournals.com/doi/abs/10.3905/JSF.2009.15.3.073?journalCode=jsf#sthash.8N39Uvww.a7vBCxdi.dpbs|journal= The Journal of Structured Finance|publisher= Institutional Investor Journals|volume= 15|issue= 3 |pages= 73-75|doi= 10.3905/JSF.2009.15.3.073|accessdate= 6 January 2014}}</ref><ref name = structuredfinancenews>{{cite web | url = http://www.structuredfinancenews.com/news/-199076-1.html | title = Deal Approved to Establish RMBS REIT | publisher = Structured Finance News | accessdate = 6 Jan. 2014}}</ref> The resulting entity was the first [[residential mortgage-backed security]] real estate investment trust.<ref name = housingwire>{{cite web | url = http://www.housingwire.com/articles/new-reit-targets-residential-mortgages | title = New REIT Targets Residential Mortgages |publisher = Housing Wire| accessdate = 6 Jan. 2014}}</ref>


==History==
==History==
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Brian Taylor founded Pine River in 2002 with an initial investment of $5.3 million.<ref name=reuters/> The company has $13 billion in assets under management and employs over 350 people.<ref name=eureka>{{cite web|url=http://www.eurekahedge.com/news/11_Mar_Hedge_Fund_News_Interview_Pine_River.asp|title=The Billion Dollar Interview|author=|publisher=Eureka Hedge|date=March 2011|accessdate=Dec. 30, 2013}}</ref><ref name=wisdom>{{cite web|url=http://whalewisdom.com/filer/pine-river-capital-management-l-p|title=Pine River Capital Management L.P.|author=|publisher=|date=|accessdate=Dec. 30, 2013}}</ref>
Brian Taylor founded Pine River in 2002 with an initial investment of $5.3 million.<ref name=reuters/> The company has $13 billion in assets under management and employs over 350 people.<ref name=eureka>{{cite web|url=http://www.eurekahedge.com/news/11_Mar_Hedge_Fund_News_Interview_Pine_River.asp|title=The Billion Dollar Interview|author=|publisher=Eureka Hedge|date=March 2011|accessdate=Dec. 30, 2013}}</ref><ref name=wisdom>{{cite web|url=http://whalewisdom.com/filer/pine-river-capital-management-l-p|title=Pine River Capital Management L.P.|author=|publisher=|date=|accessdate=Dec. 30, 2013}}</ref>


The firm was located in Pine River, Minnesota, before moving to [[Minneapolis]], [[Minnesota]] in 2003. In 2007, the company was relocated to [[Minnetonka]], Minnesota.<ref name=eureka/> Pine River has offices in [[New York]], [[London]], [[Beijing]], [[Hong Kong]], [[Shenzen]], [[San Francisco]], and [[Austin]]. In 2009, a subsidiary of Pine River became the external investment manager of Two Harbors Investment Corp, a publicly listed real estate investment trust that invests in mortgage-backed securities and related instruments.<ref name=harbor>{{cite web|url=http://www.twoharborsinvestment.com/Company/|title=Company Overview|author=|publisher=Two Harbors Investment Corp.|date=|accessdate=Dec. 30, 3013}}</ref> In 2012, an affiliate of Pine River became the external investment manager of Silver Bay Realty Trust Corp., a publicly listed real estate investment trust that invests in single-family rental homes.<ref name=silver>{{cite web|url=http://investors.silverbayrealtytrustcorp.com/Cache/1500046441.PDF?Y=&O=PDF&D=&FID=1500046441&T=&IID=4335231|title=Silver Bay Realty Trust Corp. Announces Pricing of Initial Public Offering|author=|publisher=Silver Bay|date=|accessdate=Dec. 30, 2013}}</ref>
The firm was located in Pine River, Minnesota, before moving to [[Minneapolis]], [[Minnesota]] in 2003. In 2007, the company was relocated to [[Minnetonka]], Minnesota.<ref name=eureka/> Pine River has offices in [[New York]], [[London]], [[Beijing]], [[Hong Kong]], [[Shenzen]], [[San Francisco]], and [[Austin]]. In 2009, a subsidiary of Pine River became the external investment manager of Two Harbors Investment Corp, a publicly listed real estate investment trust that invests in mortgage-backed securities and related instruments.<ref name=harbor>{{cite web|url=http://www.twoharborsinvestment.com/Company/|title=Company Overview|author=|publisher=Two Harbors Investment Corp.|date=|accessdate=Dec. 30, 3013}}</ref> In 2012, Pine River launched Silver Bay Realty Trust, a real estate investment trust that invests in single-family rental property and that is run by former [[Chief Investment Officer]] of the [[Department of Treasury]] bailout program, [[David Miller]].<ref name=silver>{{cite web|url=http://www.startribune.com/business/214443831.html|title=Neal St. Anthony: Pine River Capital became a quiet giant
|author= Neal St. Anthony|publisher=Star Tribune|date=|accessdate=Jan. 6, 2014}}</ref>


In 2012, [[Forbes]] named Pine River partner Jiayi Chen to its "30 Under 30: Finance" list.<ref name=forbes>{{cite web|url=http://www.forbes.com/pictures/mdg45jljm/jiayi-chen/|title=30 Under 30: Finance|author=|publisher=Forbes|date=|accessdate=Dec. 30, 2013}}</ref>
In 2012, [[Forbes]] named Pine River partner Jiayi Chen to its "30 Under 30: Finance" list.<ref name=forbes>{{cite web|url=http://www.forbes.com/pictures/mdg45jljm/jiayi-chen/|title=30 Under 30: Finance|author=|publisher=Forbes|date=|accessdate=Dec. 30, 2013}}</ref>

Revision as of 06:24, 7 January 2014

Pine River Capital Management L.P. is an asset management firm.[1][2][3][4] The company invests and trades stocks, fixed income, derivatives, and listed investment vehicles.[5] The company is managed by founder and CEO Brian Taylor and 15 other partners.[6][7] Pine River was recognized by Institutional Investor as the Relative Value Hedge Fund Manager of the Year in 2012 and 2013.[8] In 2009, the firm was the first to launch a $250 million real estate investment trust that was formed through a merger with a special purpose acquisition company.[9][10] The resulting entity was the first residential mortgage-backed security real estate investment trust.[11]

History

Brian Taylor founded Pine River in 2002 with an initial investment of $5.3 million.[1] The company has $13 billion in assets under management and employs over 350 people.[12][13]

The firm was located in Pine River, Minnesota, before moving to Minneapolis, Minnesota in 2003. In 2007, the company was relocated to Minnetonka, Minnesota.[12] Pine River has offices in New York, London, Beijing, Hong Kong, Shenzen, San Francisco, and Austin. In 2009, a subsidiary of Pine River became the external investment manager of Two Harbors Investment Corp, a publicly listed real estate investment trust that invests in mortgage-backed securities and related instruments.[14] In 2012, Pine River launched Silver Bay Realty Trust, a real estate investment trust that invests in single-family rental property and that is run by former Chief Investment Officer of the Department of Treasury bailout program, David Miller.[15]

In 2012, Forbes named Pine River partner Jiayi Chen to its "30 Under 30: Finance" list.[16]

References

  1. ^ a b Svea Herbst-Bayliss (Mar 5, 2010). "Pine River housing bets started in cabin". Reuters. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= (help)
  2. ^ Daniel Fisher (Mar. 27, 2013). "Sublime Subprime". Forbes. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  3. ^ Mary Childs (Oct. 3, 2013). "Pine River's Kuhn Diversifies to Bet Against 'Drunk Businessman'". Bloomberg News. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  4. ^ Maureen Farrell (Jan. 4, 2013). "Hedge funds win big with subprime mortgages". CNN Money. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  5. ^ "Hedge Fund - Pine River Capital Management". Insider Monkey. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= (help)
  6. ^ Karen Hube (Dec. 24, 2011). "Cleaning Up In Mortgages". Barron's. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  7. ^ Irwin Speizer (Jun. 4, 2013). "Can Mortgage Mavens Pine River Find Success in Other Markets?". Institutional Investor's Alpha. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= and |date= (help)
  8. ^ "Hedge Fund Industry Awards". Institutional Investor. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= (help)
  9. ^ Thetgyi, Olivia (Fall 2009). "MBS REIT First to be Formed Through SPAC Merger". The Journal of Structured Finance. 15 (3). Institutional Investor Journals: 73–75. doi:10.3905/JSF.2009.15.3.073. Retrieved 6 January 2014.
  10. ^ "Deal Approved to Establish RMBS REIT". Structured Finance News. Retrieved 6 Jan. 2014. {{cite web}}: Check date values in: |accessdate= (help)
  11. ^ "New REIT Targets Residential Mortgages". Housing Wire. Retrieved 6 Jan. 2014. {{cite web}}: Check date values in: |accessdate= (help)
  12. ^ a b "The Billion Dollar Interview". Eureka Hedge. March 2011. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= (help)
  13. ^ "Pine River Capital Management L.P." Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= (help)
  14. ^ "Company Overview". Two Harbors Investment Corp. Retrieved Dec. 30, 3013. {{cite web}}: Check date values in: |accessdate= (help)
  15. ^ Neal St. Anthony. "Neal St. Anthony: Pine River Capital became a quiet giant". Star Tribune. Retrieved Jan. 6, 2014. {{cite web}}: Check date values in: |accessdate= (help)
  16. ^ "30 Under 30: Finance". Forbes. Retrieved Dec. 30, 2013. {{cite web}}: Check date values in: |accessdate= (help)
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