After completing its first asset purchase, alternative conduit vehicle Freedom Park is set to take the Street by storm. Administered by Promontory Asset Finance Co., Freedom Park - which was designed to complement the changing risk appetite of investment banks in the evolving accounting and regulatory landscape - has already used one-fourth of its capacity and is planning to expand.

Since receiving its ratings assigned in March (see ASR 4/5), Freedom Park rapidly closed its first transaction, selling $500 million of commercial receivables into the new facility. Freedom Park now has $1.5 billion of capacity available and will look to move into all consumer and commercial assets, noted Chief Executive Officer Duncan Hennes.

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