NEW YORK (Thomson Financial) - Blackrock Inc. and Highfields Capital
Management Monday said they sponsored a new company that will acquire and
restructure distressed residential mortgage loans.
The new company, Private National Mortgage Acceptance Co., will raise
capital from private investors and acquire loans from financial institutions
seeking to reduce their mortgage exposures, the companies said.
Blackrock shares closed at $206.10 on Thursday.
Christie Rizk
cr/pc
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