Apr. 17. 2007
CirclePoint Asset Management LLC、Marubeni Corporation
CirclePoint Asset Management LLC (“CirclePoint”) is pleased to announce the establishment of its New York based asset management business. CirclePoint will be a manager of Collateralized Debt Obligations (“CDO”s) initially focusing on CDOs backed by residential mortgage-backed securities.
CirclePoint’s ultimate parent is Marubeni Corporation, the Japanese trading company, which has provided investment capital to the new venture. Marubeni has a long history of investing for its own account in CDOs, and now, with CirclePoint, has made a fully-fledged entry into CDO management.
As part of its overall strategy of expanding and developing its asset management business into the future, Marubeni has identified the CDO management business as an attractive growth area. The market for CDOs has increased enormously in recent years, with over $400 billion in new CDOs issued in 2006 alone.
CirclePoint is headed by Stephen Farrier, CEO. The firm is in the process of assembling a first-class team of CDO specialists, and expects to be ready to work on its first CDO by mid-April.
CirclePoint Asset Management LLC
450 Lexington Avenue
New York, NY 10017
Tel: (212) 450-0607