Babson Capital is named Best Cash CDO Manager by Creditflux for the second time
London -- 09/11/2008 --
Babson Capital was named 2008 Best Cash CDO Manager today by Creditflux magazine, the second straight year it has earned the recognition although amidst drastically different market conditions than existed for last year’s honors.
Creditflux, based in London, is a leading information source worldwide for the credit derivatives and structured credit markets, publishing a monthly newsletter, online daily news and a comprehensive database of CDOs. The magazine uses comprehensive data analysis exclusively to determine its honorees, and the award is based purely on quantitative performance metrics. More than 300 CDOs were submitted for recognition this year. The magazine’s inaugural awards were issued in September 2007.
"We are delighted to be named Best Cash CDO Manager for the second year in a row. It is a great honor and recognizes the hard work by the many skilled individuals within Babson Capital," said Ian Hazelton, CEO of Babson Capital Europe Limited, which manages two of the three Babson Capital CLOs nominated for individual awards. "The recognition for our overall performance versus our peers speaks for the quality and consistency across our firm in both benign and challenging markets."
“It has been a difficult 12 months since the last awards,” Creditflux noted in its August issue when nominees were announced. “New CDO issuance has plummeted … But, as these finalists show, this has not prevented many managers [from] providing strong returns for their investors … asset managers are looking to the future, and are eager to show the worlds just how good their track record is.”
The Babson CLO 2007-I, managed by the U.S. Bank Loan Team in Charlotte, N.C., was nominated as Best Cash CLO – recent. The Duchess V CLO, nominated as Best European cash CLO – seasoned, and Duchess VI CLO, nominated as Best European cash CLO – recent, are both managed by Babson Capital Europe.
For the overall Manager Awards, for which Babson Capital was named Best Cash CDO Manager, all deals that a firm had under management were compared with their peers. Through its CDO/CLO businesses in Springfield and Charlotte and Babson Capital Europe in London, the firm manages more than $22 billion in 57 CDOs (as of June 30).
The complete list of honored firms and funds is at the Creditflux website: Creditflux.
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $128.9 billion in assets under management as of June 30, 2010. Through proprietary research and analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad array of expertise in fixed income, equities, alternative, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, and Cornerstone Real Estate Advisers LLC in Hartford, Conn. Babson Capital is a member of the MassMutual Financial Group.