Check out the ongoing and potential searches for high-yield, CDO and distressed debt managers.

  • 28 Oct 2005
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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
Asset Mandate
Fund Info Size Fund Type Assignment Size Consultant Comments/Firm Hired
New Mexico Educational  USD7,500 Public D.B. US/ Active Fixed-Income USD1,300 Wilshire Associates,  Issued an RFP for at least one fixed-income manager. RFP is available 
Retirement Board Santa Monica, CA at (http://www.era.state.nm.us). Proposals are due Nov. 10, with a 
selection expected at the Dec. 9 board meeting.
Plymouth County (Mass.)  USD520 Public D.B. US/ Active Fixed-Income/  USD20 Wainwright Investment  Searching for a high-yield bond manager. RFP is available at 
Retirement System High-Yield Counsel, Boston, MA (http://www.winvcounsel.com/rfp.html). Proposals are due Nov. 9.
Indiana State Police Pension Fund USD300 Public D.B. US/ Active Fixed- USD18 N/A The fund is seeking a high-yield or hybrid fixed-income manager 
Income/ High-Yield to increase returns. An RFP, which will be released next week, will 
be due Oct. 21.
Waltham Contributory Retirement  USD140 Public D.B. US/ Active Fixed-Income/ USD8 Sara Colorado, Wainwright  Searching for a high-yield bond manager. Email Sara Colorado at 
System High-Yield Investment Counsel,  (scolorado@winvcounsel.com) for a copy of the RFP. Proposals .
Boston, MA are due Nov. 1, 2005. No timeframe for selection
Hampshire County Retirement System  USD138 Public D.B. Global/ Active  USD8 Amanda Martin New  Searching for a global fixed-income manager. RFPs are available 
Fixed-Income England Pension Consultants  at (http://www.mass.gov/perac/rfp/
hampshirecounty0905.pdf).
Cambridge, MA Proposals were due Sept. 23.
Woburn Retirement System USD85 Public D.B. US/Active Fixed-Income/ USD5 N/A Searching for a high-yield bond manager. Email Gus Aristizabal 
High-Yield at (garistizabal@winvcounsel.com) for copy of the RFP. 
Proposals were due Aug. 29.
Kentucky Teacher Retirement  USD13,000 Public D.B. US/Active Fixed-Income/ USD930 Becker, Burke Associates Searching for an investment grade core fixed-income manager. 
System Investment Grade Contact Margarett Gorodess at (ktrsrfp@beckerburke.com) for 
copy of the RFP. Proposals were due June 20, 2005.
Idaho Endowment Fund  USD837.5 Endowment US/Active Fixed- USD5 RBC Dain Rauscher Searching for a collateralized debt manager to 
Investment Board Income/CDO handle USD5 million maiden allocation.
Haverhill Retirement System USD145 Public D.B. US/Active Fixed-Income/ USD5 Wainwright Investment  Issued an RFP for a high-yield bond manager. RFPs are 
High-Yield Counsel available by contacting Jeff Locke at (jlocke@winvcounsel.com). 
Proposals were due March 17, 2005.
Medford Retirement System USD125 Public D.B. US/Active Fixed-Income/ USD6 New England Pension  Searching for a high-yield bond manager. Email 
High-Yield Consultants (publicfundresponse@nepc.com) for RFP. Proposals were due 
Jan. 21, 2005. Selection expected by 2Q 2005.
Marlborough Retirement System USD75 Public D.B. US/ Active Fixed- USD5 Ben Paradise, Meketa  Searching for a high-yield bond manager. RFPs are available at 
Income/ High-Yield Investment Group,  (http://www.meketagroup.com/
mgrCenter.php). Proposals are 
Braintree, MA due Oct. 28.
Potential Searches
Cooper Industries USD600 Corporate D.B. US/ Active Fixed-Income/  N/A None,  May consider increasing its exposure to portable alpha fixed-income 
Portable Alpha strategies. Is looking for new strategies but hasn't found anything 
satisfactory, so at the moment any increases would be with 
incumbent Westridge.
Missouri Local Government  USD2,800 Public D.B. International/ Active  N/A None,  Considering investing in international fixed-income. 
Employees Retirement System Fixed-Income No timeframe for decision on whether to search.
California State Teachers  USD126,000 Public D.B. US/ Active Fixed-Income N/A Altura Capital,  Deferred a decision on portfolio changes until a Dec. 7 investment 
Retirement System (CalSTRS) New York, NY committee meeting. Possible shift could result in managers hires.
Illinois State Teachers  USD34000 Public D.B. US/Alternative/  USD204 Callan Associates  Plan is building up its distressed debt allocation. No timeframe 
Retirement System Distressed Debt Chicago, IL for decision on whether to search for a new manager or give 
assets to an incumbent.
Oakland County (Mich.) Employees  USD1,000 Public D.B. US/Active Fixed-Income/ N/A Portfolio Analytics Intends to review its fixed-income portfolio. 
Retirement System High-Yield High-yield is a possibility.
Road Carriers Local #707  USD328 Union/Multi- US/Active Fixed-Income/ N/A N/A May invest in high-yields to boost returns. Will 
Pension Fund employer D.B. High-Yield discuss at its two-day meeting in August.
Georgia Firefighters' Pension Fund USD530 Public D.B. US/ Active Fixed- USD53 Consulting Services  If a potential bill to permit more investment flexibility is passed, 
Income/ High-Yield Group LLC, Memphis, TN fund would invest 10% in high-yield. Fund expects investment 
freedom to still be a couple of years off, however.
Georgia Peace Officers Annuity &  USD360 Public D.B. US/ Active Fixed- USD12 Southeastern Advisory,  If a potential bill is passed to relax investment restrictions, 
Benefit Fund Income/ High-Yield Atlanta, GA would invest 10% of its assets in high-yield, private equity and 
real estate to increase returns.
Seattle City Employees' Retirement  USD1,700 Public D.B. US/ Active Fixed- USD15 None,  Fund is talking to firms that offer structured credit strategies, such as 
System Income/ CDO CDOs and CLOs, because structured credit has been enjoying double 
digit returns during the past few years. No timeframe for decision on 
whether to search.
Vermont State Employees Retirement  USD1,000 Public D.B. US/ Active Fixed-Income N/A New England Pension  Being educated on active fixed-income vs. passive fixed-income.
System Consultants, Cambridge, MA
Updated Searches
Idaho Endowment Fund  USD870 Endowment US/ Alternative/ CDO USD5 RBC Dain Rauscher,  Will search for maiden CDO manager once review is done.
Investment Board Minneapolis, MN
Florida State Dept. of Financial  USD17,000 Public D.B. US/ Active Fixed-Income/  USD105 None,  Legg Mason was terminated due to poor performance. The fund 
Services/Treasury Division Core redistributed the money to fixed-income incumbents.
Jacksonville (Fla.) Police & Fire  USD860 Public D.B. US/ Active Fixed-Income/ USD100 Merrill Lynch Consulting  Searching for an intermediate bond manager. The firm will 
Pension Fund Intermediate Services Group replace an unidentified manager. Proposals are due July 15, 
Jacksonville, FL 2005. Finals presentations should take place by ate fall.
Ohio Police & Fire Pension Fund USD9,000 Public D.B. US/Active Fixed-Income/ USD177 Wilshire Associates Shenkman Capital was terminated due to poor performance. 
High-Yield Assets will be used to fund new manager.
Fairfax County (Va.) Uniformed  USD817 Public D.B. US/Active Fixed-Income/ N/A New England Pension  Holding off on its high-yield search until market conditions 
Retirement System High-Yield Consultants become more attractive.
Pennsylvania Public School  USD50,000 Public D.B. US/Active Fixed-Income/ USD500 Wilshire Associates W.R. Huff Asset Management was terminated as a result of 
Employees Retirement System High-Yield reducing exposure to high-yield fixed-income securities.
IAM National Pension Fund USD5,200 Union/Multi- US/Active Fixed-Income/ USD150 Hamilton Lane Advisors Columbia Management Group was terminated due to 
employer D.B. High-Yield organizational changes. No timeframe for decision 
on whether to conduct a replacement search.
National Electrical Benefit Fund USD10,200 Union/Multi- US/Active Fixed-Income/ USD160 Marco Consulting Group Columbia Management Group was terminated due to 
employer D.B. High-Yield organizational changes. No timeframe for decision 
on whether to conduct a replacement search.


  • 28 Oct 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 15.35
2 Rabobank 14.41
3 Morgan Stanley 11.73
4 Barclays 8.99
5 Credit Agricole 7.57

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Feb 2017
1 Wells Fargo Securities 11,897.40 33 11.83%
2 Bank of America Merrill Lynch 9,837.56 29 9.78%
3 Citi 9,714.54 32 9.66%
4 JPMorgan 7,997.38 24 7.95%
5 Credit Suisse 6,335.67 14 6.30%