ING Pilgrim and Van Kampen Investments sold portfolios in street auctions last week. Deutsche Bank placed the winning bid on the $153 million Pilgrim portfolio with Credit Suisse First Boston placing the cover bid at 99.20. The portfolio included par and distressed credits as well as some equity investments.
Van Kampen, meanwhile, sold a $100 million portfolio with market participants pointing to J.P. Morgan as the buyer. One buyside source said the deal was a 1997 issued CLO. "It was time to close it out," said the buysider. Van Kampen and J.P. Morgan officials declined comment. ING Pilgrim officials did not return calls.