CalPERS Readies Plunge Into CDO World

  • 10 Nov 2002
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The California Public Employees' Retirement System plans to make its first investment in collateralized debt obligations in the coming months, according to BW sister publication Derivatives Week. CalPERS will likely invest $25-50 million before year end, according to Mark Anson, cio in Sacramento. CalPERS is the largest public pension fund, with assets totaling approximately $136 billion.

Anson said CalPERS would invest in the equity tranche of a CDO because, "you get more bang for your buck." CalPERS already invests in the underlying primary assets and is large enough to diversify its own portfolio so does not want to take unleveraged exposure, he added. In choosing a deal, Anson said, "We are agonistic, we will look at both cash and synthetic. What we are looking for is the best structure."

  • 10 Nov 2002

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 12,508 23 18.18
2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 95,041.28 268 11.13%
2 Bank of America Merrill Lynch 79,274.93 221 9.29%
3 Wells Fargo Securities 69,765.48 197 8.17%
4 JPMorgan 69,438.13 198 8.13%
5 Credit Suisse 57,820.17 147 6.77%