Tuesday, July 27, 1999 Cargan Investment Hires Patricia Unti as Portfolio Manager
1999-07-27 13:10 (New York) Chicago, July 27 (Bloomberg) -- Cargan Investment Management LLC, a commercial mortgage securities investment firm, said it hired Patricia Unti to manage its growing portfolio of securities.
Chicago-based Cargan was founded last January by Frederick Fellows, 34, former director and senior commercial mortgage trader at Nomura Securities International Inc. It now has about $100 million invested in ``BBB''-rated and ``BB''-rated commercial mortgage securities, according to a person familiar with the firm.
Cargan declined to comment on the size of its portfolio.Unti, 31, previously helped manage about $200 million in commercial mortgage securities at Heller Financial Inc., a commercial finance company, Cargan said. She also worked as a senior financial analyst at Kemper Life Insurance Companies and Deloitte & Touche LLP.
``Patti's skill-set and experience at Heller Financial further extends our unique CMBS investment management expertise,'' Fellows said.Many firms specializing in investing in lower-rated commercial mortgage securities have mushroomed since Criimi Mae Inc., the largest investors in such securities, filed for bankruptcy protection in October last year. --Jonas Bergman in the New York newsroom (212) 940-1941 with reporting by Jonathan Tower/lw
