Five Oaks Investment Corp. Announces the Appointment of David Akre as Managing
Director at Oak Circle Capital Partners LLC
NEW YORK, April 24, 2013
NEW YORK, April 24, 2013 /PRNewswire/ --Five Oaks Investment Corp. (NYSE:
OAKS) ("Five Oaks" or "the Company") announced today that David Akre has
joined the senior management team of Oak Circle Capital Partners LLC, the
Company's external manager, as a Managing Director. Mr. Akre will have primary
responsibility for developing opportunities in the residential mortgage
market, which is expected to enable the Company to better benefit from the
curtailment of direct government involvement in housing finance.
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Mr. Akre has extensive experience in the residential mortgage loan market,
including whole loan acquisition, credit underwriting, securitization, hedging
and financing. He was previously Co-CEO, Vice Chairman, director and
co-founder of New York Mortgage Trust, and prior to that he was Vice President
of Capital Markets, Bulk Acquisitions and Secondary Markets at Thornburg
Mr. David Carroll, Chairman and CEO of the Company, commented, "We are
delighted that David is joining us to help lead our strategic development in
Non-Agency investments, securitization and origination," Mr. Carroll added,
"We are looking forward to participating in the recapitalization of the
private mortgage market, and David's in-depth experience and background will
help us to build out our capabilities in this regard."
Five Oaks Investment Corp.
Five Oaks Investment Corp. is a real estate investment trust ("REIT") focused
on investing in, financing and managing a portfolio of residential
mortgage-backed securities ("RMBS"), residential mortgage loans and other
mortgage related investments.
As a "hybrid" REIT, Five Oaks Investment Corp. invests in both Agency and
Non-Agency RMBS and related investments. The Company's objective is to
deliver attractive risk-adjusted returns to its investors, primarily through
dividends and secondarily through capital appreciation, via an investment
approach centered on taking advantage of relative value opportunities
available across the whole residential mortgage market.
Five Oaks Investment Corp. is externally managed and advised by Oak Circle
Capital Partners LLC.
This press release includes "forward-looking statements" within the meaning of
the U.S. securities laws that are subject to risks and uncertainties. These
forward-looking statements include information about possible or assumed
future results of the Company's business, financial condition, liquidity,
results of operations, plans and objectives. You can identify forward-looking
statements by use of words such as "believe," "expect," "anticipate,"
"estimate," "plan," "continue," "intend," "should," "may" or similar
expressions or other comparable terms, or by discussions of strategy, plans or
intentions. Statements regarding the following subjects, among others, may be
forward-looking: the return on equity; the yield on investments; the ability
to borrow to finance assets; and risks associated with investing in real
estate assets, including changes in business conditions and the general
economy. Forward-looking statements are based on the Company's beliefs,
assumptions and expectations of its future performance, taking into account
all information currently available to the Company. Actual results may differ
from expectations, estimates and projections and, consequently, you should not
rely on these forward looking statements as predictions of future events.
Forward-looking statements are subject to substantial risks and uncertainties,
many of which are difficult to predict and are generally beyond the Company's
control. Additional information concerning these and other risk factors are
contained in the Company's most recent filings with the Securities and
Exchange Commission, which are available on the Securities and Exchange
Commission's website at www.sec.gov
All subsequent written and oral forward-looking statements that the Company
makes, or that are attributable to the Company, are expressly qualified in
their entirety by this cautionary notice. Any forward-looking statement
speaks only as of the date on which it is made. Except as required by law,
the Company is not obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Additional Information and Where to Find It
Investors, security holders and other interested persons may find additional
information regarding the Company at the SEC's Internet site at
http://www.sec.gov/ or the Company website www.fiveoaksinvestment.com or by
directing requests to: Five Oaks Investment Corp., 641 Lexington Avenue, Suite
1432, New York, NY 10022, Attention: Investor Relations.
SOURCE Five Oaks Investment Corp.
Contact: David Oston, Chief Financial Officer, Five Oaks Investment Corp.,
(212) 328 9521
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