Babson Capital Management has been named 2008 Best Cash CDO Manager by Creditflux magazine, the second straight year it has earned the recognition despite drastically different market conditions.
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 collateralized debt obligations. 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 Thomas Finke, President of Babson Capital. "The recognition for our overall performance versus our peers speaks for the quality and consistency across our firm."
"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 world just how good their track record is."
The nominations for individual awards included the Duchess V CLO, nominated as Best European cash CLO - seasoned, and Duchess VI CLO, nominated as Best European cash CLO - recent, both managed by Babson Capital Europe, a subsidiary of Babson Capital based in London. The Babson CLO 2007-I, managed by the U.S. Bank Loan Team in Charlotte, N.C., was nominated as Best Cash CLO - recent.
For the Best Cash CDO Manager award, all deals that a firm had under management were compared with its peers. Through its CDO/CLO businesses in Springfield, Mass., and Charlotte and Babson Capital Europe, the firm manages more than $22 billion in 57 CDOs as of June 30, 2008.
Thursday, 11 September 2008
Babson Capital Management Award
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