• FriedbergMilstein was closing in on the completion of a $584 million collateralized loan obligation that was the first CLO to invest primarily in mezzanine debt. [The fund, FriedbergMilstein Private Capital Fund I, closed as a CDO on Dec. 20, 2004. The fund comprises first-lien senior loans, second-lien loans or notes and mezzanine or subordinate notes]
• JPMorgan hired Matt Zames, managing director and co-head of U.S. rated trading at Credit Suisse First Boston, to a similar position. [Zames' hiring came among a reshuffling of the fixed income hierarchy at JPMorgan late last year after several executives left following a 44% drop in trading activity from the third quarter of 2003.]
