Bear Stearns' collateralized loan obligation underwriting business has also landed the lead role on Octagon Credit Investors latest vehicle, Octagon CLO VII, said a portfolio manager. This will be the first vehicle completed since the senior portfolio managers increased their stake in the company through a recapitalization earlier this year (3/26). James Ferguson, who founded Octagon in 1994, and portfolio managers Michael Nechamkin and Andy Gordon led the charge for the approximately $2 billion high-yield shop. Octagon was set up by J.P. Morgan Partners, which continues to keep a material piece of the business. An Octagon official declined comment.
. . . Leads Seventh Octagon CDO