For those familiar with the sector, the name structured investment vehicles (SIV) can suggest a fairly generalist, diverse investment strategy, and for much of the industry's history, that was true. These days, however, newer SIV managers are targeting structured finance assets to bolster their vehicles.

AIG FP Capital Management, a London-based investment management unit of AIG Financial Products Corp., is managing Nightingale Finance, which will have the ability to issue to up to $25 billion in euro and U.S. dollar-denominated commercial paper and medium-term notes. At press time, it was unclear as to when Nightingale would begin issuing its debt securities, although the start of trading is expected to be soon. One thing is certain: Nightingale is using its traditional structure in a somewhat trendy way.

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