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Cohen Bros., a Philadelphia-based boutique investment bank, is preparing offering documents for an asset-backed securities hedge fund.

Investor demand for equity-tranche risk has driven issuance of bespoke collateralized debt obligations higher in the first half, according to dealers.

Ritesh Shah has joined Primus Financial Products from Goldman Sachs to head its correlation desk.

London-based hedge fund giant Brevan Howard has hired Stephen Stonberg, managing director and former head of European credit derivative sales at JPMorgan in London, as head of business development.

The price of protection on U.S. hospital operator HCA blew out more than 300 basis points last week after the company agreed to the biggest-ever leveraged buyout.

Interest rate protection holders were selling out of positions in droves last week as Federal Reserve data released Wednesday were read as firmly backing the view rate rises are nearly over.

Japanese rating agency Rating & Investment Information is planning to launch a new ratings model for synthetic CDOs.

--Jim Stehli, managing director and head of the global CDO group at UBS in New York, commenting on exotic structured credit products such as its equity fund Opera.

Lehman Brothers has recruited Kitty Cheung, derivatives marketer at Goldman Sachs in Hong Kong, for a similar position.

Jeremy Vogelmann, Lehman Brothers' loan-only credit default swap trader, left the firm earlier this week.