Boca Raton-based Encore Capital Management is trying to raise $400 million for a new private equity fund to buy land and build homes, Bloomberg reported. Encore’s plan is unusual because private equity firms usually don’t build homes, though many bought and rented thousands of homes after the residential real estate market collapsed in the late 2000s. Citing unidentified sources familiar with the plan, Bloomberg reported that Encore is trying to raise funds from institutional investors ... [more]