Enter the CDO-squared
Still relatively recent, the CDO-squared market has proved to be hugely popular and is expanding fast. As with other areas of the credit space, there is a continual flow of new products that take the basic principles and develop them for new areas and structures
One of the fastest-growing areas of the CDO universe in recent years has been the market for CDOs of CDOs, or CDOs-squared, which date back to September 1999 when the first structure of its kind was launched by the ZAIS Group. The $345.3 million ZING 1 is described by ZAIS as "the first CDO solely securitized by other CDO paper" and was aimed at bolstering returns for investors by increasing
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