Aladdin Capital Management and Mitsubishi Corporation Finance have formed a joint venture. The new Stamford, Conn.-based firmMCF-Aladdin Holdings rolled out a leveraged loan fund in August and multi-strategy structured credit fund last week. Aladdin manages $1.5 billion in high yield loans and MCF-Aladdin is looking to cap the new loan fund at over $1 billion. Aladdin will manage both funds, while Mitsubishi will provide distribution in Japan, said George Marshman, cio of Aladdin.
This week Aladdin will also close the approximately $307 million Landmark IV CLO underwritten by Bear Stearns. This will be Aladdin's fourth CLO.
Aladdin has also recently made several new hires to help manage the funds, including, quantitative manager Yi Zhao from BNP Paribas. Zhao worked on the derivatives trading desk at the French bank. Calls to Zhao and an official at BNP Paribas were not returned.