Western Asset Mortgage Capital is on the lookout for investments in residential mortgage-backed securities guaranteed by government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac. The firm may also make investments in commercial mortgage-backed securities and other asset-backed securities, as well as residential mortgages not backed by GSEs. With offices in New York and California, it operates in Asia Pacific, Europe, Latin America, and the Middle East, as well. Boasting more than $468 billion in assets under management, the firm is managed by Western Asset Management Company, a subsidiary of Legg Mason. It went public in 2012 and later qualified as a real estate investment trust (REIT).