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Guy Who Grew Tired Of Dealing With Hedge Funds May Launch A Hedge Fund

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For five long years, Thomas Marano has been pushed around by a bunch of hedge fund creditors which would very much like to be paid in full when Residential Capital, the subprime lender that Marano leads, exit bankruptcy.

Make that led: Marano is out of the shit-taking business. And he's thinking about jumping into the shit-giving business.

Thomas Marano, the outgoing head of Ally Financial Inc.'s subprime lender, Residential Capital, is pursuing other opportunities in the mortgage business that could include starting a hedge fund or real-estate investment trust.

Mr. Marano, the former Bear Stearns executive who has led ResCap since 2008, said he is also talking to private-equity firms about starting a mortgage-related business.

He declined to say which private-equity firms he has had discussions with, other than they are "very large, New York-based" companies.

ResCap's Marano May Look to Form Hedge Fund or Mortgage REIT [DJ via WSJ]
ResCap's Marano Resigns as Chief of Bankrupt Mortgage Lender [Bloomberg]


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