Latest news
Latest news
Debut manager is launching a CLO platform building on leveraged loan market experience
Andrew Burgess worked at Prytania for 16 years
Public versus private distinction scrapped for disclosure plus new, simplified templates for mature asset classes
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Moody’s Investors Service cuts its rating on GMAC because of expectations the company will have to use capital to support its Residential Capital home-lending unit, reports Reuters. Mark Wasden, Moody’s analyst, said in a statement that GMAC has no room to support ResCap without compromising its rating profile. The one-notch cut brought GMAC’s rating three steps below investment grade, to “Ba3” from “Ba2.” Moody’s did not cut its rating on the ResCap unit but the rating agency is maintaining a negative outlook on both the unit and on GMAC.
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Citigroup named Mickey Bhatia, previously global head of correlation trading, as head of the portfolio and exotic credit derivatives group, and reorganized its structured credit group.
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Ibis Management's maiden hedge fund, a U.S. long/short equity strategy, has returned 8.6% year-to-date through Nov. 30, primarily due to its short subprime bets.
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Steve Sterling, formerly the head of high-yield capital markets and loan sales at Bear Stearns, is set to join The Carlyle Group as a managing director and head of research for the U.S. leveraged finance group Jan. 15.
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Tonu Pekk, financial institutions and principal banker at the European Bank for Reconstruction and Development, will leave the firm after three years tomorrow.
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Standard & Poor’s today slashed ACA Capital Holding’s rating to CCC from A and placed FGIC on credit watch negative.
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Citigroup in New York has reorganized its structured credit group and named Carey Lathrop, Jeff Perlowitz and Mark Tsesarsky as co-heads in charge of different businesses lines.
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Citigroup today cut a significant portion of its structured credit group, including managing directors Darius Grant in asset-backed securities collateralized debt obligations and Shalabh Mehrish on the CDO syndicate desk.
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Fieldstone Capital, a division of broker-dealer Fieldstone Services, is hiring salesmen.