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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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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.
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The takeover of Northern Rock by the Virgin-led consortium is a good sign for the struggling mortgage lender’s Granite residential mortgage-backed securitization program, asset-backed securities analysts say.
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Barclays Capital in London has lost one of its team members with the departure of Michael Strange, director of financial institutions securitization.
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Kensington Mortgages has been forced to temporarily shelve its subprime product offering as mortgage-backed securities investors have continued to shun non-prime paper.
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Calyon has reorganized its structured credit business due to the current volatile market environment.