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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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New Century Financial, the largest subprime lender in bankruptcy, has agreed to sell $170 million worth of loans to hedge fund Ellington Management Group for less than 30 cents on the dollar, according to Bloomberg News. Old Greenwich, Conn.-based Ellington has won a court-supervised auction, agreeing to pay $58 million for the loans and a number of mortgage-backed securities.
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XL Capital Assurance has hired Ken Chang for its collateralized debt obligation group in New York.
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David Liu has left UBS mortgage research to trade asset-backed securities-related products for Merrill Lynch's proprietary desk.
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GoldenTree Asset Management is ramping two new collateralized loan obligations out of its Laurelin series and expects to complete the deals over the next six to nine months.
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Jeffrey Megar, the collateralized loan obligation portfolio manager at Fortis Investment, left the firm April 27.
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Calyon Americas, the investment bank of the Crédit Agricole Group, named Andrew Schaeffer as managing director and head of debt capital markets, origination, last week.
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Drew Casino, a Morgan Stanley asset-backed securities trader, has left for London-based hedge fund Peloton Partners.
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Mark Zusy, head of cash and synthetic collateralized debt obligations at Lehman Brothers in New York, is retiring from the firm after 21 years.
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Dresdner Kleinwort has hired Vijay Radhakishun as managing director and head of securitized finance in London.