The Shape of things to come


CDOs are big business. The number of managers has soared in the past five years. Bankers are fleeing Wall Street to start their own CDO boutiques. And now, there's a publicly traded company that wants to replicate the commercial banking model using CDOs. Its name is Tetragon Financial Group.

Tetragon is the two-year-old CDO arm of Polygon Investment Partners, a $9 billion London-based hedge fund. Incorporated in Guernsey and listed on the Euronext in Amsterdam, Tetragon is headquartered in br

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