Collateralised loan obligation (clo)
Goldman CDO suit throws focus on collateral manager conflicts
Goldman Sachs fraud allegations show portfolio managers credit selection interests are often not aligned with benefiting CDO note-holders, say lawyers.
The distressed assets sitting on the balance sheets of financial institutions have increased in value in recent months, with a variety of firms reporting paper gains. Has the turning point been reached...
Securities and investment banking group Jefferies has hired Sharif Anbar-Colas as head of collateralised loan obligation and collateralised debt obligation trading, based in London. Anbar-Colas joins from...
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More Collateralised loan obligation (clo) articles
CDO spread recovery hints at revival of structured credit market
Demand for legacy structured credit deals has surged in the past six months, with better quality assets offering relative value opportunities. The question now is whether this will spur a revival in primary market activity. Rewind 18 months and the...
S&P predicts further CMBS and CLO downgrades
Investors should expect further downgrades on European collateralised loan obligations and commercial mortgage-backed securities during 2010, according to rating agency Standard & Poor’s. Future CLO downgrades will reflect an ongoing decline in underlying...
CLO outlook improves
Key indices for the CLO market showed signs of stabilisation as WARF (weighted average rating factors) and over-collateralisation levels improved slightly in the month of June, buoyed by rising loan prices. OC levels continued to improve (See chart 1)....
Risk reallocation
The originate-and-distribute model offered a means for banks to offload credit risk from their balance sheets and distribute it to investors. But Andrew Haldane and Lewis Webber of the Bank of England argue this risk was often passed on to those least...
Rising from the ashes
The structured credit market ground to a halt in the third quarter of last year amid rising defaults in the US subprime mortgage sector. While parts of the credit market remain closed, the synthetic collateralised loan obligation market looks set for...
Hedge Fund of the Year - Stark Investments
In 2007, investors in the US credit markets were rudely awakened from a consensual hallucination. A seemingly insatiable demand for structured credit from banks, hedge funds and institutional investors had driven spreads tighter and tighter, forcing them...
CDO Manager of the Year - The Carlyle Group
When The Carlyle Group hired Mike Ramsay from Pru M&G Investments to head its European collateralised loan obligation (CLO) arm in September 2004, it started a stampede of US managers setting up shop in Europe. Last year, however, Carlyle European Leveraged...
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