Two CDO Portfolio Managers Depart Triton

  • 12 Jan 2003
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Arturo Cifuentes and Jonathan Polansky have left collateralized debt obligation shop Triton Partners in New York where they were portfolio managers. Cifuentes confirmed his resignation, effective last Monday, via e-mail, but did not respond to e-mails seeking further information. Sources confirmed Polansky's departure as well. Polansky could not be reached for comment. They both reported to Simon Mikhailovich, co-founding partner, and Michael Sollott, co-founder and cio. Mikhailovich declined to comment on the departures.

"Triton has reorganized to better integrate structured finance and the credit process," according to an official at Triton familiar with the situation. He denied rumors that the decision was taken because Triton is struggling with the payroll due to losses in bond vehicles. He noted, "The firm is well-capitalized." Both Sollott and Jim Wang, managing director, will co-manage the $300 million Triton CDO Opportunities I, a CDO of CDOs, formerly overseen by Polansky, Cifuentes and Wang. Sollott will continue to manage four other CDO funds at Triton, which represent a $1 billion portfolio of high-yield and bank loan CDOs. Wang had been recently promoted to a more portfolio management position, to play a growing role in the structured finance group, according to the official.

One analyst suggested there is a franchise risk in letting go someone of Cifuentes caliber and reputation. "Wang is a very bright, very quantitative guy, but Arturo was a strong factor in why people invested in Triton. He had a lot of credibility." The source, however, denied the perception of Wang as just a quant, and explained he has been involved in Triton from the start, and is a member of the investment committee. "He is not just a modeling guy," he stated. He added that the departure of Cifuentes and Polansky is unrelated to Dan Arbess' decision to leave the firm. He recently left Triton last month to launch Xerion Capital Partners, a distressed investment firm (LMW, 1/6).

  • 12 Jan 2003

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 %
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1 Citi 23,450.22 64 12.57%
2 Bank of America Merrill Lynch 21,899.30 57 11.74%
3 Wells Fargo Securities 16,244.58 49 8.71%
4 JPMorgan 13,192.69 44 7.07%
5 Credit Suisse 10,691.12 19 5.73%