Ellington Residential rebrands as Ellington Credit Co. to focus on acquiring, investing in, and managing secondary CLO mezzanine debt and equity tranches

4/19/2024

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IREI

• Subcategory: Capital Markets: Debt

• Tag: Operations | Strategy

• Additional Filters-Subcategory: Capital Markets: Debt-CLO, Capital Markets: Debt-CMBS

Ellington Residential Mortgage REIT (EARN) has rebranded as Ellington Credit Company as part of its strategic transformation to focus on corporate collateralized loan obligations (CLOs), with an emphasis on mezzanine debt and equity tranches. Later in 2024, the company intends, subject to shareholder approval, to convert to a closed-end fund and complete its transition from an MBS-focused company to a CLO-focused company.