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Aladdin Capital Management
17 Sep 2007
Overview
Established in 1999, Aladdin’s business focus is non-traditional fixed-income-based
strategies across a broad range of sectors, writes Duncan Kerr.
The firm is an adviser and manager for two relative value global credit
funds, 10 collateralised loan obligations, three investment-grade managed
synthetic CDOs, seven structured credit funds, one floating-rate bank loan
fund and one single-investor fund.
Aladdin Capital broke into the European CLO market this year, launching its €413m Hudson CLO through Bear Stearns. The transaction is at least 90% backed by senior secured loans from 13 countries. Its CLO business started in 2001 under four specialists, including Joseph Moroney, whose bank loan experience dates back to 1998, where he co-managed $11bn in bank loans at Merrill Lynch Investment Managers. At MLIM, Moroney’s team was one of the largest buyers of bank loans in the world. The firm believes its competitive advantage lies in its participation across both the high yield and investment-grade markets. It is active in hedge funds and structured credit, and while there are different information flows, the information is beneficial to multiple businesses. CDO assets $17.1bn, based on Creditflux data Top managers George Marshman, chief investment officer; Joseph Moroney, senior portfolio manager Flagship CDO funds Landmark, Greyrock and Hudson |
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