Barclays Capital Asset Management reportedly is warehousing assets for its second CDO composed of U.S. leveraged loans. The vehicle, called Venture CDO II, is slated to total $300 million and will consist of at least 90% loans and a maximum 10% bucket of high-yield bonds. A spokeswoman for Barclays declined to comment on the firm's plans, and bankers at Credit Suisse First Boston, which has been tapped to underwrite the notes, did not return calls for comment.
Hans Christensen was brought over from Citibank last year in order to establish a leveraged loan and high-yield asset management business for Barclays in the U.S. While at Citi, Christensen was a senior portfolio manager for the alternative investment strategies group and prior to that was involved in bank loan portfolio management. The new U.S. unit of Barclays reportedly completed Venture CDO 2002 this past March (LMW, 3/3).