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Securitization People and Markets

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  • Fitch Ratings, continuing to focus on growing its high-yield group, has hired Lisa Matalon, senior director, and Amol Josh, director, within its U.S. corporate high-yield sector.
  • The Houston Municipal Employees Pension System has hired DDJ Capital Management to manage a $30 million high-yield bond mandate.
  • Callidus Capital Management has launched its first hedge fund, a $100 million capital structure arbitrage fund called the Saepes Capital Investors.
  • Morgan Stanley and Bear Stearns are leading a $180 million facility to back private equity player Welsh, Carson, Anderson & Stowe's $377 million acquisition of Ozburn-Hessey Logistics (OHL) from DLJ Merchant Banking.
  • Banc of America Securities and Deutsche Bank have cut pricing on the pro rata and shifted $500 million from the "B" loan into the "A" loan for the facility backing Fresenius Medical Care's $3.5 billion acquisition of Renal Care Group.
  • Rajendra is a managing director and head of European securitization research at Deutsche Bank in London, having joined the firm in mid-2001 from Merrill Lynch.
  • Jefferies & Co. has hired Peter Dixon, director in fixed- income sales at BNP Paribas as senior v.p. in Treasury sales.
  • Lehman Brothers and Goldman Sachs are leading a $900 million facility for Vanguard Car Rental USA. Citigroup is a joint bookrunner.
  • The BNY Capital Markets-led credit facility for Patriot Media and Communications restructured and decreased pricing due to oversubscription.