BNY Capital Markets is expected to price its second collateralized loan obligation in the next few weeks. One Wall Street II, a $400 million portfolio led by Morgan Stanley, is expected to invest in mostly large cap loans.
It brought its first fund, One Wall Street, in the summer of 2005. That portfolio was a $300 million fund led by Institutional Credit Partners (LMW, 6/17/2005). Dean Stephan, managing director at BNY, is the portfolio manager of Hamilton Floating Rate Fund and the portfolio manager of the two CLOs. A BNY Capital Markets official referred calls to a Morgan Stanley official who was not available for comment.