New York-based Hillmark Capital Management is looking at using credit derivatives and expects to be ready to take the plunge in a year's time. Mark Gold, ceo, said, "We are studying the synthetic marketplace [and] looking at appropriate structures." Further details as to how the fund might incorporate derivatives could not be determined by press time.
The fund manager, formed last month, is preparing its second collateralized loan obligation. It is also working on a conventional credit opportunities fund that will focus on bank debt, bonds and special situations. Gold declined comment about any potential portfolios. It closed its first fund, Hillmark Funding, a USD500 million portfolio, a few weeks ago.
