Princeton Advisory Group, a recently formed portfolio management shop that focuses on structured finance investments, is ramping up assets and attempting to issue its first set of collateralized debt obligation liabilities, according to CDO officials. The Princeton, N.J., firm, which is a part of Botree Investments, has mandated Banc One Capital Markets to underwrite the transaction. Dubbed Princeton Advisors ABS CDO I, the $300 million in liabilities the firm plans to issue will be backed by cashflows from a range of structured finance bonds, according to one CDO researcher. He adds the underlying assets will be focused mainly on real estate-related paper such as home equities and commercial mortgage-backeds.
"They're a good example of some of the newcomers in this market," the researcher says, noting that a handful of such firms have sprung up in recent months (BW, 10/5). An official at Princeton referred calls to Munish Sood, founder and owner of Botree. He and David Duzyk, managing director and head of Banc One's CDO origination business in Chicago, did not return calls.