Angel Oak Capital Advisors is launching its first mutual fund, a fixed income fund.

The Atlanta-based firm is headed by co-founders Sreeni Prabhu, a former chief investment officer for Washington Mutual, Michael Fierman, who co-founded SouthStar Funding, a wholesale mortgage lender that specialized in nonagency mortgage products, and Brad Friedlander , who was a portfolio manager at Washington Mutual.

The firm is outsourcing its back office functions to Huntington Asset Services. Angel Oak currently manages some $165 million in assets under management.  

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