Hedge Fund Cuts Subprime Exposure Following Profits

  • 02 Nov 2007
Email a colleague
Request a PDF

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.

Click here to read the story from Bloomberg News

  • 02 Nov 2007

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 5,997 17 15.40
2 Citi 4,679 16 12.02
3 Lloyds Bank 3,158 6 8.11
4 Bank of America Merrill Lynch (BAML) 3,104 10 7.97
5 Morgan Stanley 3,066 8 7.88

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 69,085.90 230 10.56%
2 JPMorgan 63,371.79 193 9.69%
3 Wells Fargo Securities 50,770.30 154 7.76%
4 Bank of America Merrill Lynch 50,061.19 163 7.66%
5 Credit Suisse 45,499.96 141 6.96%