Singapore's Lion Capital Management, one of the few collateralized debt obligation managers in the Asia Pacific region, is gearing up to launch a deal which will incorporate an asset-backed securities CDO bucket. "We're still in the ramp-up stage," said a senior official.
The manager is preparing a portfolio comprised of U.S. mortgage-backed securities as well as ABS CDOs to diversify the structure. The rough timeline is for launch in a matter of months, but the official declined to further comment as the deal is still in early days of preparation.
The fund has launched a handful of cash and synthetic CDOs in recent years and last month completed a seven and a half year synthetic CDO referencing a pool of USD3 billion credit.
