Hedge funds are increasingly turning to collateralized loan obligations; the RMBS of 2013? CLOs took the stage at this week's ABS East conference in Miami.
Serhan Secmen (Photo: LinkedIn)
CLOs have been an important part in the general resurgence of the asset backed securities market this year, boasting healthy new issuance and strong returns. The CLO market stalled after the financial crisis hit but has raced back this year, with a five-year-high $35 billion issued so far, according to Securitization Intelligence. Some of the new securities in 2012 have come from firms known for their hedge funds, including Och-Ziff Capital Management,