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A collateralized debt obligation managed by London-based asset manager Solent Capital could be set to sell off some of its assets due to financing problems.
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Swiss private bank Julius Baer has hired Richard Loretan as head of structured products.
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Dean Rostrom, managing director in structured credit marketing at Deutsche Bank in Tokyo, has relocated to London to head synthetic collateralized debt obligation origination.
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Eos Partners, the $2.6 billion hedge fund and private equity firm is in the early stages of planning a distressed-debt fund to launch this fall.
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Countrywide Financial, the nation’s largest home-loan lender, has tapped an $11.5 billion credit facility from 40 of the world’s biggest banks in an attempt to combat the effects of thinning liquidity in the secondary mortgage market, the company announced this morning. “As we have previously discussed, secondary market demand for non-agency mortgage-backed securities has been disrupted in recent weeks,” said David Sambol, president and coo.
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Bill Connors, formerly a portfolio manager at W.R. Huff Asset Management, has joined New York-based hedge fund Ore Hill Partners.
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Iceland’s Kaupthing Bank today agreed to buy Holland’s NIBC merchant bank for approximately €3 billion ($4 billion), but NIBC's U.S. subprime related portfolio will be sold prior to the completion to a company controlled by the sellers.
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Market players in London are predicting that smaller European collateralized loan obligation shops are headed for tough times during the next quarter, with some struggling to launch new deals.
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BNP Paribas has hired Vlad Galea as head of emerging markets structuring in its London office, part of its drive into the structured credit market in Russia and eastern Europe.