Mayflower Finance, a fledgling structured credit manager with offices in Greenwich and Dusseldorf has hired Christiane Elsenbach, a director in structured credit sales at Dresdner Kleinwort. She joins as coo and managing partner to establish and build up the group's City office. Reached by email, Elsenbach declined to comment.
Enno Balz, head of the structured credit investment team at IKB Deutsche Industriebank in Dusseldorf, and Dirk Roethig, global head of securitization and co-head of treasury at IKB, founded the fund in July. They brought on board David Caspar, v.p. and fixed income portfolio manager at Trainer Wortham, to run asset-backed securities portfolio management from Greenwich. The fund will run a whole gamut of structured credit investments.
Balz said the fund is bringing in another partner in January. It is raising assets for a CDO equity fund and a structured credit return fund. Mayflower is aiming initially to raise USD30-50 million.