After closing its third CDO of the year last week, The Winter Group unit Terwin Money Management wrapped up its third CDO last week, an asset-backed transaction that appears to be the hallmark of this two year-old market participant. The firm plans to be a keen participant in the ABS CDO market next year as well.

Glacier II, a $497 million high grade ABS CDO priced in late September, closing the week before last. "It priced very well and we were very happy with the execution," said Simonetta Rainieri, head of Terwin Money Management, TWG's mortgage credit-related asset management business.

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