Founded in 1985, Merganser Capital Management Inc. is an institutional fixed income management company. Located in Boston, Mass., the company has over $6.2 billion in assets. It serves a wide range of industries, including education, health care, insurance and other business enterprises. Merganser Capital Management Inc. is a wholly owned subsidiary of Annaly Capital Management, a real estate asset management company. Annaly Capital Management specializes in trading, management and operations. The company is a publicly traded Real Estate Investment Trust (REIT).