Check Out The Ongoing And Potential Searches For High-Yield, CDO And Distressed Debt Managers

  • 20 Oct 2006
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The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Kristen Haunss at (212) 224-3990, or fax (212) 224-3602.

New Searches
AssetMandate
Fund InfoSizeFund TypeAssignmentSizeConsultantComments/Firm Hired
Ohio Police & Fire Pension Fund8,400.00Public D.B.US/Active Fixed-200Wilshire AssociatesSearching for a high-yield bond manager.
Income/High-YieldProposals are due July 8, 2005
Ohio Public Employees Retirement 64,500.00Public D.B.US/Active Fixed-500Ennis, Knupp & AssociatesIssued an RFI for 2-3 high-yield bond managers. Responses 
SystemIncome/High-Yieldwere due April 8 with selections in September 2005.
Idaho Endowment Fund Investment 837.5EndowmentUS/Alternative/CDO5RBC Dain RauscherSearching for a collateralized debt manager to handle 
BoardUSD5 million maiden allocation.
Potential Searches
Oakland County (Mich.) Employees 1,000.00Public D.B.US/Active Fixed-N/APortfolio AnalyticsIntends to review its fixed-income portfolio. 
Retirement SystemIncome/High-YieldHigh-yield is a possibility.
Road Carriers Local #707 Pension Fund328Union/Multi-US/Active Fixed-N/AMorgan Stanley May invest in high-yields to boost returns. 
employer D.B.Income/High-YieldInvestment ConsultingWill discuss at its two-day meeting in August.
Kern County (Calif.) Employees 2,000.00Public D.B.US/Active Fixed-97Wilshire AssociatesW.R. Huff Asset Management was terminated for unspecified
Retirement AssociationIncome/High-Yieldreasons. Assets were given to incumbents Goldman Sachs 
Asset Management and Western Asset Management.
Updated Searches
Fairfax County (Va.) Uniformed 817Public D.B.US/Active Fixed-N/ANew England Pension Holding off on its high-yield search until market conditions 
Retirement SystemIncome/High-YieldConsultantsbecome more attractive.
Pennsylvania Public School Employees 50,000.00Public D.B.US/Active Fixed-500Wilshire AssociatesW.R. Huff Asset Management was terminated as a result of 
Retirement SystemIncome/High-Yieldreducing exposure to high-yield fixed-income securities.
IAM National Pension Fund5,200.00Union/Multi-US/Active Fixed-150Meketa Investment GroupColumbia Management Group was terminated due to 
employer D.B.Income/High-Yieldorganizational changes. No timeframe for decision on whether 
to conduct a replacement search.
National Electrical Benefit Fund10,200.00Union/Multi-US/Active Fixed-160Marco Consulting GroupColumbia Management Group was terminated due to 
employer D.B.Income/High-Yieldorganizational changes. No timeframe for decision on 
whether to conduct a replacement search.
Florida State Board of Administration120,000.00Public D.B.US/Active Fixed-340Callan AssociatesW.R. Huff Asset Management has resigned from its portfolio 
Income/High-Yieldfor unspecified reasons. Assets reallocated to existing
mandates and current managers.
Massachusetts Pension Reserves 36,000.00Public D.B.US/Active Fixed-300Wilshire AssociatesPlan voted to terminate W.R. Huff Asset Management after 
Investment Management BoardIncome/High-Yieldthe firm reneged on a promise to return USD48,000 in fees. 
Assets will be divided amongst incumbents Loomis Sayles, 
Seix Investment Advisors and Shenkman Capital Management.
Completed Searches
Detroit Police & Fire Retirement System3,000.00Public D.B.US/Active Fixed-105North Point AdvisorsHSBC Halbis Partners
Income/High-Yield
Fresno (Calif.) City Employees 1,600.00Public D.B.US/Active Fixed-32Wilshire AssociatesLoomis, Sayles & Company L.P.
Retirement SystemIncome/High-Yield
Houston Municipal Employees 1,400.00Public D.B.US/Active Fixed-30Wilshire AssociatesDDJ Capital Management 
Pension SystemIncome/High-Yield
St. Louis Public School 989Public D.B.US/Active Fixed-50New England Pension HSBC Halbis Partners
Retirement SystemIncome/High-YieldConsultants
Omaha School Employees 790Public D.B.US/Active Fixed-40Jeffrey Slocum HSBC Halbis Partners
Retirement SystemIncome/High-Yield& Associates
New York City Retirement Systems87,000.00Public D.B.US/Active Fixed-I200NoneMacKay-Shields llc
ncome/High-Yield
New York City Retirement Systems87,000.00Public D.B.US/Active Fixed-200NoneSeix Investment Advisors
Income/High-Yield
Hartford Municipal Employees 1,300.00Public D.B.US/Active Fixed-25UnknownPIMCO Advisors
Retirement SystemIncome/High-Yield
Essex Regional Retirement System213Public D.B.US/Active Fixed-11Segal AdvisorsLoomis, Sayles & Company L.P.
Income/High-Yield
Los Angeles County Employees' 26,000.00Public D.B.US/Active Fixed-50Russell Investment Penn Capital Management
Retirement Association (LACERA)Income/High-YieldGroup
Woodlawn CemeteryN/ANon-Profit US/Active Fixed-7UnknownPenn Capital Management
OrganizationIncome/High-Yield
Massachusetts Pension Reserves 36,000.00Public D.B.US/Alternative/100New England Pension TCW Group
Investment Management BoardDistressed DebtConsultants
Luzerne County (Pa.) Employees 180Public D.B.US/Active Fixed-5Merrill Lynch Consulting Penn Capital Management
Retirement SystemIncome/High-YieldServices Group
Louisiana State Employees 6,400.00Public D.B.US/Active Fixed-260New England Pension Wells Capital Management
Retirement SystemIncome/High-YieldConsultants


  • 20 Oct 2006

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 83,931.01 244 12.94%
2 Bank of America Merrill Lynch 71,587.85 220 11.03%
3 Wells Fargo Securities 64,351.96 203 9.92%
4 JPMorgan 46,391.25 147 7.15%
5 Credit Suisse 37,323.31 115 5.75%