Jonathan Laredo, former head of structured finance for Europe and Asia at JPMorgan in London, is planning to launch a structured credit fund that will use over-the-counter derivatives. The fund will invest in a range of structured credit products, including secondary market collateralized debt obligations and credit-default swaps, according to officials familiar with the plans. Laredo declined comment.
The fund, which has a target of USD2-3 billion in assets, is expected to launch in the summer, according to one official.
A former colleague described Laredo as a technical wizard, noting that securitizations he was involved in were executed efficiently and smoothly. Another former colleague said Laredo is a veteran of the market and has a huge Rolodex, which will be essential for raising capital in a competitive market.
Laredo resigned from the firm in February. Tamara Adler, head of corporate structured finance, Edward Giera, currently head of debt capital markets but head of financial institutions group debt products at the time, and Leonard Van Drunen, manager of real estate securitization, took over Laredo duties, according to Sebastian Howell, spokesman in London.
