West Side Strategies

Agency MBS.

West Side has employed a relative value fixed income arbitrage strategy, constructing portfolios primarily of structured Agency MBS since firm inception.  We seek to uncover market inefficiencies within the structured Agency MBS universe, while attempting to hedge out prevailing market, prepayment and interest rate risk. Our goals are to capture hedge adjusted interest income as well as to purchase securities poised for capital gain. We employ top-down macroeconomic analysis coupled with bottom-up security selection, and aim to deliver positive returns which are uncorrelated to other asset classes. Disciplined risk management techniques are used in conjunction with models to help minimize risks and identify new opportunities.

Student Loans.

West Side launched a fundamental value driven student loan strategy in December 2014 which offers an opportunity to investors due to its affiliate relationship with an originator of high credit quality refinance and consolidation student loans.  The originator targets alumni of professional graduate schools with an advanced degree (JD, MBA, MD/DDS/DO, PA, CRNA, etc.), and select undergraduate alumni, all of whom have secured high income jobs with strong earning potential. West Side’s strategy focuses on building portfolios of levered credit subordinates via term securitizations of these high credit quality private student loans and related servicing rights.

CMBS and Commercial Real Estate Whole Loans.

West Side employs an absolute value fixed income strategy constructing portfolios of CMBS and commercial real estate (“CRE”) whole loans within the U.S. The objective of the strategy is to take advantage of idiosyncratic risk in the legacy & new issue CMBS and CRE markets by utilizing a disciplined approach to credit analysis. The aim is to extract value from both long term fundamental mispricing of credit and short term, technical pricing fluctuations. The strategy seeks to achieve positive returns that are largely uncorrelated to other asset classes. To employ the strategy, West Side works in partnership with our consultant Clearview Capital-WS LLC; Clearview Capital’s principals provide West Side with 25+ years of CMBS and CRE experience along with close relationships with an extensive network of CRE participants.