Search results for

SVG Advisers this week became the first private equity fund manager to launch a repeat public collateralised debt obligation. Arranged by Nomura, the Eu500m SVG Diamond Private Equity II pools a combination of primary and secondary participations in US and European buy-out and venture capital funds. It is virtually identical, though Eu100m larger — to an earlier deal closed by SVG in September 2004, most notably in its "drawable-equity" structure, under which equity investors will commit to make funds available during the three year ramp-up period.

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.

U.S. collateralized loan obligations performed well in 2005, with Standard & Poor's raising the ratings on 22 CLOs and lowering two.

Cooper Standard Automotive's $215 million term loan broke at 100 3/4 and moved up to trade steadily at 101 3/4.

JPMorgan is leading a $160 million of loans backing the leveraged buyout of Dave & Buster's by private equity sponsor Wellspring Capital Management.

JPMorgan and Lehman Brothers have launched syndication of an $850 million facility backing the $2.43 billion acquisition of Dunkin' Brands by a group of private equity firms including, Bain Capital Partners, The Carlyle Group and Thomas H. Lee Partners.

Imperial Capital has hired Paul Aronzon from law firm Milbank, Tweed, Hadley & McCloy, to serve as an executive v.p. heading up the firm's restructuring advisory group.

ABN AMRO hired Siobhan Morden as a sovereign and local debt market strategist for Latin America.

Edward Altman, professor of finance at the Stern School of Business, New York University, predicted the end of the benign credit cycle with higher default rates in the public securities market expected this year and next.

Asbestos names traded up as a bill that aims to cap companies' asbestos liabilities was heard before the Senate last week.

BNP Paribas hired David Pawlowski as a director in the whole loan trading group within the fixed-income business.

The debtor-in-possession for the bankrupt power-plant owner Calpine Corp. was reworked last week with $50 million shifted from the second lien to the first lien, and the spread on the second lien cut by 50 basis points.