Check Out The Ongoing And Potential Searches For High-Yield, CDO And Distressed Debt Managers

  • 05 Jan 2007
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The following directory includes year-to-date search and hire activity for high-yield, distressed debt and CDO managers. The accuracy of the information, which is derived from many sources, is deemed reliable but cannot be guaranteed. All amounts are in US$ millions unless otherwise stated. To report manager hires and new searches, please call Kristen Haunss at (212) 224-3990, or fax (212) 224-3602.

New Searches
Fund InfoSizeFund TypeAssignmentSizeConsultantComments/Firm Hired
Southbridge (Mass.) Town USD25Public D.B.US / Active Fixed-USD5Segal Advisors, RFP is available by contacting Brian Keenan at
Retirement SystemIncome / Core-PlusBoston, MA, U.S.( Proposals are due Jan. 16, 2007.
California Department of Personnel N/APublic D.B.US / Passive N/AUnknownRFP will be issued at ( on 
AdministrationFixed-IncomeDec. 15. Mandate size is undisclosed and  proposals will 
be due Jan. 22.
Chicopee Contributory Retirement USD128Public D.B.US / Active Fixed-USD33Segal Advisors, RFP is available by emailing Carol Tam at 
SystemIncome / Core-PlusBoston, MA, U.S.( Responses are due Jan. 9.
Louisiana State Employees Retirement USD8,000Public D.B.US / Active Fixed-USD250New England Pension Requests for RFPs can be made via email to Joel Paula at 
SystemIncome / High-YieldConsultants, Cambridge, ( Proposals are due Jan. 16.
MA, U.S.
San Francisco Employees' Retirement USD14,700Public D.B.Global / Active FixedUSD1,800Angeles Investment Advisors,Eliminating global bonds as an asset class and combining 
System#NAME?Santa Monica, CA, U.S.assets into core plus. Will issue RFP before week's end. 
Incumbents WAMCO, Fisher Francis and Bridgewater 
welcome to re-bid.
Kansas City (Mo.) Police RetirementUSD800Public D.B.US / Active Fixed-N/ADeMarche Associates, Consultant was expected to make presentation to board  
SystemIncome/High-YieldOverland Park, KS, Dec. 12 meeting. Unsure if searches will result.
West Virginia State Treasurers OfficeUSD2,600Public D.B.US/Active Fixed-USD260UnknownRFP is available at (
Income/Short Term+RFPs/Request+for+Proposals.htm). Proposals were due Nov. 28.
Idaho Endowment Fund Investment 837.5EndowmentUS/Alternative/CDO5RBC Dain RauscherSearching for a collateralized debt manager to handle 
BoardUSD5 million maiden allocation.
Potential Searches
Utah State UniversityUSD85EndowmentGlobal / AlternativeUSD21UnknownSet a 25% allocation to alternatives. Can invest up to 10% in 
high-yield and distressed debt; another 10% in private capital, 
natural resources, commodities and private real estate; and 20% 
in absolute return and long/short hedge funds.
Philadelphia Public Employees' USD4,300Public D.B.US / Active Fixed-N/AFiduciary Investment Will consider adding a high-yield fixed-income manager in 2007 
Retirement SystemIncome/High-YieldSolutions, Philadelphia, after asset study is complete. Mandate size is not yet known.
PA, U.S.
Grable FoundationUSD263FoundationUS/Active Fixed-USD27Hammond Associates, Will make a 10% allocation to TIPS and will discuss how to 
Income/Inflation-LinkedSt. Louis, MO, U.S.implement the strategy at its next meeting in late January. 
BondsCalls should be made to the consultant. 
School Employees Retirement USD9,970Public D.B.US/Active USD200Summit Strategies Group, Researched high return fixed-income strategies last year but 
System of OhioFixed-IncomeSt. Louis, MO, U.S.deferred moves due to current market environment. Will 
continue to explore alternative fixed-income strategies.
Oakland County (Mich.) Employees 1,000.00Public D.B.US/Active Fixed-N/APortfolio AnalyticsIntends to review its fixed-income portfolio. 
Retirement SystemIncome/High-YieldHigh-yield is a possibility.
Road Carriers Local #707 Pension Fund328Union/Multi-US/Active Fixed-N/AMorgan Stanley May invest in high-yields to boost returns. 
employer D.B.Income/High-YieldInvestment ConsultingWill discuss at its two-day meeting in August.
Kern County (Calif.) Employees 2,000.00Public D.B.US/Active Fixed-97Wilshire AssociatesW.R. Huff Asset Management was terminated for unspecified
Retirement AssociationIncome/High-Yieldreasons. Assets were given to incumbents Goldman Sachs 
Asset Management and Western Asset Management.
Updated Searches
Fairfax County (Va.) Uniformed 817Public D.B.US/Active Fixed-N/ANew England Pension Holding off on its high-yield search until market conditions 
Retirement SystemIncome/High-YieldConsultantsbecome more attractive.
Pennsylvania Public School Employees 50,000.00Public D.B.US/Active Fixed-500Wilshire AssociatesW.R. Huff Asset Management was terminated as a result of 
Retirement SystemIncome/High-Yieldreducing exposure to high-yield fixed-income securities.
IAM National Pension Fund5,200.00Union/Multi-US/Active Fixed-150Meketa Investment GroupColumbia Management Group was terminated due to 
employer D.B.Income/High-Yieldorganizational changes. No timeframe for decision on whether 
to conduct a replacement search.
National Electrical Benefit Fund10,200.00Union/Multi-US/Active Fixed-160Marco Consulting GroupColumbia Management Group was terminated due to 
employer D.B.Income/High-Yieldorganizational changes. No timeframe for decision on 
whether to conduct a replacement search.
Florida State Board of Administration120,000.00Public D.B.US/Active Fixed-340Callan AssociatesW.R. Huff Asset Management has resigned from its portfolio 
Income/High-Yieldfor unspecified reasons. Assets reallocated to existing
mandates and current managers.
Massachusetts Pension Reserves 36,000.00Public D.B.US/Active Fixed-300Wilshire AssociatesPlan voted to terminate W.R. Huff Asset Management after 
Investment Management BoardIncome/High-Yieldthe firm reneged on a promise to return USD48,000 in fees. 
Assets will be divided amongst incumbents Loomis Sayles, 
Seix Investment Advisors and Shenkman Capital Management.
Completed Searches
Alabama Prepaid Affordable USD688Trust FundUS / Active USD58Callan Associates, Stern Agee Asset Management
Tuition (PACT) FundFixed-IncomeFlorham Park, NJ, U.S.
Alabama Prepaid Affordable USD688Trust FundUS / Active USD115Callan Associates, Western Asset Management
Tuition (PACT) FundFixed-IncomeFlorham Park, NJ, U.S.
Creighton UniversityUSD265EndowmentUS / Active Fixed-USD12Fund Evaluation Group, Western Asset Management
Income / Bank LoansCincinnati, OH, U.S.
Orange County Employees USD6,400Public D.B.US / Active Fixed-USD250Callan Associates, Aberdeen Asset Management
Retirement SystemIncome / Core-PlusSan Francisco, CA, U.S.
Philadelphia FoundationUSD229FoundationUS / Active Fixed-USD1Colonial Consulting, Access Capital Strategies, LLC
Income / Mortgage-New York, NY, U.S.
Backed Securities
Plymouth County (Mass.) Retirement USD660Public D.B.US / Active Fixed-USD20Wainwright Investment Eaton Vance Management
SystemIncome/High-YieldCounsel, Boston, MA, U.S.
Pittsfield Contributory Retirement SystemUSD82Public D.B.US/Active Fixed-USD22UnknownFidelity Investment Management (H.K.)
Wayne County Employees Retirement USD1,200Public D.B.US/Active Fixed-USD15UBS Financial Services, JP Morgan Chase & Company
SystemIncome/CoreTroy, MI, U.S.
Wayne County Employees Retirement USD1,200Public D.B.US/Active Fixed-USD5UBS Financial Services, Ambassador Capital Management
SystemIncome/CoreTroy, MI, U.S.
Detroit Police & Fire Retirement System3,000.00Public D.B.US/Active Fixed-105North Point AdvisorsHSBC Halbis Partners
Fresno (Calif.) City Employees 1,600.00Public D.B.US/Active Fixed-32Wilshire AssociatesLoomis, Sayles & Company L.P.
Retirement SystemIncome/High-Yield
Houston Municipal Employees 1,400.00Public D.B.US/Active Fixed-30Wilshire AssociatesDDJ Capital Management 
Pension SystemIncome/High-Yield
St. Louis Public School 989Public D.B.US/Active Fixed-50New England Pension HSBC Halbis Partners
Retirement SystemIncome/High-YieldConsultants
Omaha School Employees 790Public D.B.US/Active Fixed-40Jeffrey Slocum HSBC Halbis Partners
Retirement SystemIncome/High-Yield& Associates
New York City Retirement Systems87,000.00Public D.B.US/Active Fixed-I200NoneMacKay-Shields llc
New York City Retirement Systems87,000.00Public D.B.US/Active Fixed-200NoneSeix Investment Advisors
Hartford Municipal Employees 1,300.00Public D.B.US/Active Fixed-25UnknownPIMCO Advisors
Retirement SystemIncome/High-Yield
Essex Regional Retirement System213Public D.B.US/Active Fixed-11Segal AdvisorsLoomis, Sayles & Company L.P.
Los Angeles County Employees' 26,000.00Public D.B.US/Active Fixed-50Russell Investment Penn Capital Management
Retirement Association (LACERA)Income/High-YieldGroup
Woodlawn CemeteryN/ANon-Profit US/Active Fixed-7UnknownPenn Capital Management
Massachusetts Pension Reserves 36,000.00Public D.B.US/Alternative/100New England Pension TCW Group
Investment Management BoardDistressed DebtConsultants
Luzerne County (Pa.) Employees 180Public D.B.US/Active Fixed-5Merrill Lynch Consulting Penn Capital Management
Retirement SystemIncome/High-YieldServices Group
Louisiana State Employees 6,400.00Public D.B.US/Active Fixed-260New England Pension Wells Capital Management
Retirement SystemIncome/High-YieldConsultants

  • 05 Jan 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) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,505.59 4 13.16%
2 SG Corporate & Investment Banking 1,292.64 1 11.30%
2 Rabobank 1,292.64 1 11.30%
4 Wells Fargo Securities 942.61 3 8.24%
5 Mizuho 875.48 2 7.65%