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 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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  • Today
1 Citi 117,261.12 337 11.09%
2 Bank of America Merrill Lynch 94,721.79 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.81%
5 Credit Suisse 69,442.99 183 6.57%