David Akre was named managing director of Oak Circle Capital Partners, Five Oaks Investment Corp.’s (OAKS) external manager. In his new role, Akre will be responsible for developing opportunities in the residential mortgage market.

Akre left his position as co-CEO, vice chairman, director and co-founder of New York Mortgage Trust (NYMT). Before that, he was vice president of capital markets, bulk acquisitions and secondary markets at Thornburg Mortgage.

Akre has extensive experience in the residential mortgage market, including whole loan acquisition, credit underwriting, securitization, hedging and financing.

"We are delighted that David is joining us to help lead our strategic development in nongency investments, securitization and origination," said David Carroll, chairman and CEO of Oak Circle Partners.

He added, "We are looking forward to participating in the recapitalization of the private mortgage market, and David's in-depth experience and background will help us to build out our capabilities in this regard."