Aladdin maps out new asset-backed fund


Aladdin Capital Management, the giant Stamford, Conn., fixed-income shop, is planning to launch a new hedge fund to take advantage of recent dislocations in the asset-backed securities market.

The Aladdin Opportunity Fund aims to generate returns in the mid-teens range with low or no financial leverage by capitalizing on what it views as “considerable, and in many cases even unprecedented, opportunities” that have resulted from the recent dislocation of asset flows, liquidity, valuation and financing opportunities in the fixed-income markets.

The general premise, according to marketing documents, is to allocate into sectors or assets whose fundamental values are greater than