Search results for

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.

CypressTree Investment Management, a Boston-based loan and high-yield bond manager with $2 billion under management, is launching an outpost in London to increase its euro and sterling-denominated investments.

Bank of America and UBS have launched syndication of a $270 million cross-border dividend deal for Formica Corp.

The debt of several energy companies surged last week. Teco Energy, MachGen, Cottonwood Power, the Magnolia Power Project and Southaven Power were among the large climbers, according to traders.

Ameritrade's $1.65 billion term loan "B" broke at 100 1/2 in the secondary market last week and continued to trade in that range.

Citigroup and JPMorgan are leading a $1.496 billion partial refinancing for Burger King that will also partially fund a dividend payout.

Ford Motor's bonds traded up a couple of points after the company announced restructuring plans.

GSC Capital Partners, which has more than $9 billion in assets under management, plans to recapitalize the company and convert from a partnership with a few owners to a more broadly owned entity, said Andrew Wagner, managing director and cfo.

JPMorgan updated its European collateralized loan obligation overlap study and found that despite an increase of almost 20 CLOs analyzed, diversification remained steady at 23.7%, compared with last year's overlap figure of 26.4%.

Three credit derivative sales officials covering Iberia at Morgan Stanley in London have left the firm.

Barclays Capital's Kurt Finkbeiner, director and Asian head of equity derivatives in Hong Kong, has left the firm. Finkbeiner transferred from London to Hong Kong in late 2004 to re-start an equity derivatives desk in Hong Kong, and subsequently made several high-profile hires in Hong Kong and Tokyo for the initiative (DW, 9/24/04). The departure is believed to be due to a clash with Dixit Joshi, head of equity derivatives in London. A call placed to Joshi was returned by Nathaly Sidiropoulos, spokeswoman, who declined comment.

The team of Flagship Capital Management, an asset management arm of Bank of America, is merging with Deutsche Asset Management, the global asset management services division of Deutsche Bank, according to a source familiar with the deal.