Hedge Fund Cuts Subprime Exposure Following Profits

  • 02 Nov 2007
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Paulson & Co. has cut its exposure to the subprime home loan market by 86% following massive gains on bets against the battered sector, reports Bloomberg News. The New York-based hedge fund manager said that it expects to continue profiting off home price declines and delinquent borrowers because its Credit Opportunities funds kept subprime-related “short” positions. At the same time the firm “felt it advisable to lock in most of the gains,” according to an investor report. Paulson & Co. has doubled assets under management to $24 billion this year.

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  • 02 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 1,284 2 30.09
2 Barclays 633 1 14.82
3 BNP Paribas 509 1 11.91
4 Citi 467 1 10.94
5 Morgan Stanley 455 1 10.66

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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1 Citi 9,235.10 31 12.19%
2 Barclays 7,853.42 22 10.36%
3 Bank of America Merrill Lynch 7,473.95 24 9.86%
4 JPMorgan 7,225.34 25 9.54%
5 Wells Fargo Securities 6,258.35 24 8.26%