Stamford, Conn.-based money manager Aladdin Capital Management plans to enter the CDO market in full force as it prepares its first two ABS CDOs in the coming months. Aladdin recently added three individuals to its newly built asset-backed and commercial mortgage-backed securities team as part of its effort to expand its game into the ABS and CMBS playing field.
Aladdin has a high-grade CDO and a mezzanine CDO in the works, said Anatoly Burman, one of three managing directors in the structured finance group. The high-grade deal, which is 80% ramped, will be marketed during the middle of June and should price by the beginning of July, he said. However, the mezzanine deal, which is only about 40% ramped, "is more likely an August deal," Burman said. Goldman Sachs will act as the underwriter for both of the transactions.