Distressed Buyer Looks To Put Cash To Work

Brownstone Asset Management, a new high-yield and distressed arm of Brownstone Investment Group, is up and running and looking to put money to work, said Doug Lowey, president in New York.

  • 24 Sep 2004
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Brownstone Asset Management, a new high-yield and distressed arm of Brownstone Investment Group, is up and running and looking to put money to work, said Doug Lowey, president in New York. Lowey declined to quantify how much the fund manages or specific credits it will look to participate in.

Oren Cohen, partner at Trilogy Capital, joined this summer as partner in the new fund with Lowey. Cohen had previously been an Institutional Investor-ranked researcher in broadcasting and cable, first at Bear Stearns and then at Merrill Lynch, which he left for Trilogy two years ago (BW, 6/16/2002). Lowey added Cohen's broadcasting and cable background is "one of the many tools in our chest," but the fund will not be specifically focusing on the sector.

Lowey explained the fund will take long and short positions and is looking to make investments in names where there is a near-term catalyst for significant price movement. Brownstone's prime broker is Goldman Sachs.

  • 24 Sep 2004

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 70,341.11 234 10.46%
2 JPMorgan 64,579.62 197 9.60%
3 Bank of America Merrill Lynch 51,474.08 169 7.65%
4 Wells Fargo Securities 51,322.59 157 7.63%
5 Credit Suisse 47,533.25 150 7.07%