Wednesday, 23 July 2014
Last updated 12 hours ago
Nov 18 2009 | 11:19am 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…