Hedge Funds

Halcyon ramps up structured finance business


Halcyon Asset Management, the $3.7 billion New York hedge fund operation headed by John Bader, has hired the head of Prudential Investment Management's bank loan group to lead a new loan securitization business.

Ross Smead will run a new platform intended to expand Halcyon's activities in constructing and managing collateralized loan obligations (CLOs).

Halcyon's hire of Smead is the latest of a number of appointments aimed broadly at building out the firm's structured finance operations. In April, Halcyon hired Raj Kumar away from the Zais Group to set up a number of securitized products, including collateralized debt obligations