Ellington Plans IPO for Its Single-Family Rental Business
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Ellington Management Group LLC, the $5.3 billion investment firm founded by Michael Vranos that specializes in mortgage-backed bonds, is planning an initial public offering for its rental-home business.
Ellington Housing Inc. intends to use proceeds from the stock sale to buy single-family homes, mortgages and multifamily loans and properties, Old Greenwich, Connecticut-based Ellington Management said today in a statement. It didn’t say how much money Ellington Housing plans to raise in the IPO.