At the heart of Cairn Capital’s competitive advantage in credit is its in-house highly structurally literate and well regarded structuring team.
There are five core members of this team as at 7th January 2010, all of whom were previously at major investment banks or major financial institutions where they held senior positions in various credit roles.
The structuring team’s contribution can be broken down into three principal roles:
Working with an arranger`s own structuring team to ensure that any public or private trades are structured in the most robust manner to enable Cairn Capital’s asset managers to maximise returns for investors.
Carrying out third party advisory mandates. For example, during 2005 it structured, arranged and placed a £9 billion synthetic securisation for a major European bank of its unsecured consumer loan portfolio.
The team, combining extensive product structuring knowledge, work-out experience and a fundamental understanding of credit and the legal environment, enables Cairn Capital to deploy significant resources to advisory mandates in relation to restructurings and similar situations.
As at 23rd March 2009 Cairn Capital has advised on transactions involving:
- Leveraged loans
- SIVs
- Real estate
- ABS
In addition Cairn has restructured transactions in the SIV and real estate markets.
