“The business of buying foreclosed homes, renovating and renting them out is morphing from a largely mom-and-pop business into the next big thing on Wall Street. Investors who once chased only big-ticket deals now are buying houses one at a time.  According to investment bank Jefferies & Co., major financial firms led by Colony, Blackstone Group Och-Ziff Capital Management and Oaktree Capital Group LLC have raised more than $8 billion to buy houses, largely in markets pummeled by the housing crisis.”

http://online.wsj.com/article/SB10000872396390443696604577644700448760254.html

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