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Deal raises questions about whether transaction was done at arm's length
Joanna Chan is taking on the role of head of strategic capital
Key points of contention include the investor sanctions regime and the definition of 'resilience'
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Hedge fund Viking Global Investors is looking to add a structured credit analyst.
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Daniel Kim, managing principal at CapitalFusion Alternative Investments, has left the Los Angeles-based asset manager, effective Friday, to start his own firm.
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International law firm Freshfields Bruckhaus Deringer has promoted Andrew Heathcote to counsel in its structured finance practice from senior associate. Heathcote will consult on a full range of securitization transactions including asset-backed securities. He will also work with partners to further develop client relations. The promotion comes as the firm continues to develop the practice, notwithstanding the credit crunch and decline of securitization activities in the broader market. Heathcote has been with the firm since 1999.
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U.K. subprime mortgage lender Money Partners is considering cutting staff and says the slump in the securitization market is a prime reason.
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The reported 650 layoffs Bear Stearns made last week included managing directors on the syndication side, John Simonson and Jim Gorman.
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A.M. Best recently expanded its structured finance group and added a Web site portal devoted to the six-year-old team as the rating agency seeks to capitalize on insurance companies’ increased use of capital markets for funding.
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Los Angeles-based asset manager CapitalFusion Alternative Investments has started marketing a credit opportunity fund, less than half the size of an earlier planned fund with which it was looking to raise $250 million.
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Calyon has laid off 40 professionals from its structured credit business in recent weeks. About 25 of the cuts were from the firm’s London office, with the remaining layoffs in New York, according to one market official.
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Meridian Capital Group has expanded into the whole loan trading business and has also seen an increase in its mezzanine debt placement business.