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Latest news
Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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Citigroup in New York has hired Rahul Murlidharan from JPMorgan for a new role as a director responsible for U.S. credit derivatives structuring.
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Fitch Ratings may cut its collateralized debt obligation manager rating on Bear Stearns Asset Management, part of Bear Stearns, due to troubles arising from bets on subprime mortgages, reports Reuters. Bear Stearns on Friday said it would provide up to $3.2 billion in financing for a struggling hedge fund it manages. But sources said a second fund is still working out a restructuring plan with creditors.
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XL Capital Assurance has hired Josephine Musso from Bear Stearns as a managing director responsible for residential mortgage-backed securitizations in its consumer ABS business.
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Bear Stearns will reduce leverage and improve liquidity in its High-Grade Structured Credit Fund by stepping up with a $3.2 billion loan, Sam Molinaro, cfo, said in conference call today.
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FirstLight Financial, the new middle-market firm, closed on its first admin, agented and lead arranged deal last Monday.
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Thomas H. Lee Partners is setting up a private investing partnership headed by AIG SunAmerica alumnus James Hunt. THL Credit Group will be a cash investor looking at a diversified credit strategy, investing in first liens, second liens, mezz debt, structured equity and public debt instruments.
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Ares Management has launched a private debt middle-market financing platform in Europe led by Gordon Watters, who joined from Barclays Bank.
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Cohen & Co. has hired three Jefferies Capital Management analysts for its Emporia Capital Management asset management and lending subsidiary.
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Deutsche Bank has hired Peter Stein from Bear Stearns as a director in agency collateralized mortgage obligation trading within its residential mortgage-backed securities group.