CDO Equity Manager Seeks Protection Writer

Alegra Capital, a collateralized debt obligation fund manager in Zurich, is looking for a derivatives house to write capital protection on a fund of CDO equity tranches.

  • 22 Apr 2005
Email a colleague
Request a PDF

Alegra Capital, a collateralized debt obligation fund manager in Zurich, is looking for a derivatives house to write capital protection on a fund of CDO equity tranches. The fund, which launched in July, has around EUR25 million under management.

Daniel Riediker, partner and ceo of Alegra in Zurich, said it is talking to several market participants about using the constant proportion portfolio insurance method to provide capital protection. The illiquidity and volatility of the underlying, however, make this a difficult fund for a structuring house to hedge. Alegra has also looked into using a call option on the fund together with a zero coupon bond, but Riediker said it does not want to have the exposure to interest rate risk which it would have if it used a bond-based structure.

  • 22 Apr 2005

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 Jan 2017
1 Citi 22,118.13 61 9.00%
2 Barclays 20,987.41 55 8.54%
3 JPMorgan 17,406.75 53 7.08%
4 HSBC 16,333.52 48 6.64%
5 Goldman Sachs 15,454.74 49 6.29%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 Commerzbank Group 114.00 1 66.16%
2 CaixaBank 37.05 1 21.50%
3 UniCredit 10.62 1 6.17%
3 BNP Paribas 10.62 1 6.17%
Subtotal 172.30 3 100.00%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 17 Jan 2017
1 SG Corporate & Investment Banking 770.06 2 16.80%
2 Goldman Sachs 656.16 2 14.32%
3 JPMorgan 527.28 4 11.50%
4 Emirates NBD PJSC 408.38 1 8.91%
5 Deutsche Bank 321.53 3 7.01%