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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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The Carlyle Group plans to raise $1.2 billion with its first public offering of one of its investment funds. The firm, with $US56 billion under management, will offer shares on the Euronext Amsterdam stock exchange in a leveraged finance fund primarily made up of mortgage-backed securities. The move comes as other private equity and hedge fund groups seek to tap the public markets to raise permanent capital. Businessweek.com first reported the planned float.
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UBS has made some organizational changes in its collateralized debt obligation business.
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ABN AMRO is considering adding credit-default swaps to the trading strategies of its structured consumer capital business.
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Longacre Fund Management has hired Dan Moses, formerly a director in Credit Suisse's distressed/special situations group, as a managing director.
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Michael Swell has joined Goldman Sachs Asset Management as a managing director and head of structured products.
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London-based F&C Asset Management has moved one step further into the collateralized debt obligations space with the appointment ex-Societe Generale CDO chief Teimuraz Barbakadze to the new position of director, head of structured credit.
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Dresdner Kleinwort has bagged ex-Merrill Lynch exotic credit derivatives co-head Neil Walker to head its credit trading effort in London.
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Credit Suisse has added Mary Ann Thomas from Bear Stearns as a strategist in its U.S. mortgage team.
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Dillon Read Capital Management, which last week was folded back into UBS after announcing over $123 million in losses, is believed to have built up mark-to-market losses on both single-name credit-default swaps and on the ABX index.