In the last several weeks, the former Ceres Capital has come a long way in raising the funds needed to launch its already-rated structured investment vehicle (SIV), sources said. The company partnered with CDO powerhouse Stanfield Investment Partners in December, to form Stanfield Global Strategies. Just last week, XL Capital Assurance (XLCA) announced that it had taken an equity stake in both Stanfield entities.

While contacts at Stanfield declined to comment on the pending launch of the SIV, sources following the developments say this is just the infusion required to get the vehicle up and running.

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