The collateralised debt obligation (CDO) market continues to attract new structures, new collateral types and more than its fair share of criticism. Last year, there were more new entrants to the CDO space, including hedge funds keen to launch deals as a means to tap into longer-term financing, as well as to boost their assets under management.
However, Los Angeles-based Trust Company of the West (TCW), which launched its first CDO in 1996, remains firmly ahead of its competitors. Over the y
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