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Securitization People and Markets

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  • HSBC in London has hired Maurice Dostal, senior associate in real estate finance at Lehman Brothers in London, to build out the commercial mortgage-backed securitization team.
  • Ares Capital Management's business development corporation (BDC) Ares Capital Corp. is looking to raise $150 million through a secondary stock offering.
  • A trio of loan pros at Goldman Sachs, including Robert Wagner, head of loan capital markets, is leaving the firm.
  • The Royal Bank of Scotland is launching a $210 million bank deal this Thursday in New York City for Oreck Corp. that will pay a $60 million dividend deal to equity sponsor American Securities Capital Partners (ASCP) and refinance bank debt at lower rates.
  • HSBC in London plans to hire up to a dozen structured asset finance professionals in the first half of the year, according to Scott Dickens, European head of ABS and structured bonds.
  • Pioneer Investment Management and Highland Capital Management have raised a $518.6 million closed-end fund called Pioneer Floating Rate Trust.
  • Syndication launched last week for a $740 million credit facility that backs the acquisition of Transportation Technologies Industries (TTI) by Accuride Corp. Citigroup and Lehman Brothers lead the facility.
  • Syndication launched last week for Alaska Communication Systems Group's (ACS) refinancing, which is being done in place of an initial public offering of Income Deposit Securities (IDS).
  • The Blackstone Group is building a distressed debt capability to focus on smaller, efficiently traded issues.