Angel Oak Capital Advisors LLC has announced the firm has surpassed $10 billion in assets under management across its platform of public funds, private funds and separately managed accounts. In addition, the firm also holds one of the largest books (approximately $3 billion) of servicing assets in the non-QM market.
“Since we founded Angel Oak Capital Advisors in 2008, the key to our success has been a robust, team-based investment process designed to deliver strong, risk-adjusted returns over a full credit cycle,” said Sreeni Prabhu, Angel Oak’s co-CEO and chief investment officer. “We are always working to enhance our strategies and deliver new and unique products to meet our growing investor demand.”
Alongside the firm’s AUM growth this year, Angel Oak also:
►Completed its 9th and 10th non-qualified mortgage securitizations in Q1 2019, continuing to lead the growth of the non-QM securitization market.
AOMT 2019-1 and AOMT 2019-2 were issued at a respective $609 million and $621 million. Both transactions combined to make up 23 percent of the total Q1 2019 non-QM securitization volume.
►Successfully raised $215 million in its first public closed-end fund offering, the Angel Oak Financial Strategies Income Term Trust, which invests in the community bank debt sector.
►Celebrated the one-year anniversary of the Angel Oak UltraShort Income Fund (AOUIX). As of May 31, 2019, the Fund’s one-year total return of 3.64 percent, versus 2.59 percent for the Morningstar Ultrashort Bond Fund category, placed it in the top two percent of 193 funds in that category.
►Surpassed the 10-year mark for the Angel Oak High Yield Opportunities Fund (ANHIX). For the three- and five-year periods ending May 31, 2019, the Fund delivered annualized returns of 7.44 percent and 4.64 percent, respectively, outperforming its benchmark by 0.40 percent and 0.24 percent on an annualized basis over the same time periods.
Additionally, Angel Oak announced the following executive promotions, to enhance operational efficiencies and ensure effective management of future growth:
►Clayton Triick, CFA and Colin McBurnette have been promoted to senior portfolio managers, and Cheryl Pate, CFA has been promoted to a portfolio manager.
►David Silvera has been named Angel Oak’s chief operating officer, responsible for coordinating the firm’s non-investment functions in order to support its investment performance, asset growth and organizational excellence.
►Randy Chrisman becomes the firm’s chief marketing officer, leading the firm’s marketing and public relations efforts, while increasing his collaboration with the Angel Oak sales team.
►Lu Chang, CFA, FRM, CAIA assumes the role of chief risk and operations officer, including oversight of operations.
Along with executive promotions, Angel Oak Capital Advisors has been steadily adding new employees across all departments. Over the past five years, the firm has more than doubled the number of its associates from 36 to 73.
“We are fortunate to have skilled professionals from top to bottom,” Prabhu said. “Our success is the result of their hard work, and we could not be more proud of their efforts. As we look forward to the growth opportunities ahead, Angel Oak Capital Advisors will continue to hire and develop exceptional talent. We have clear goals for the future of Angel Oak Capital, and I am confident in our team’s ability to accomplish them.”
