Aladdin Buys Solent Credit Hedge Fund, CDO Business

Nov 18 2009 | 12:19pm ET

Aladdin Capital Holdings has acquired Solent Capital Partners’ collateralized debt obligations business, including its credit hedge fund.

Stamford, Conn.-based Aladdin will take over Solent’s Propeller hedge fund and nine synthetic CDOs, with combined assets of about $750 million.

“There is more consolidation to come,” Neal Neilinger, Aladdin’s chief investment officer, told Bloomberg News. “Managing $11 billion in assets is more efficient than managing $1 billion. These transactions make it harder for smaller firms to operate.”

Aladdin boats $11.9 billion in assets.

For its part, Solent said it was getting out of a moribund business: With no new CDOs likely to be issued any time soon, there is no opportunity to grow.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...