More CDO Managers Likely To Set Up Shop In Europe This Year.

The article reports that in 2004, a flurry of collateralized debt obligations (CDOs) came into being in the U.S. Now, while they continue to keep busy in the U.S., several investment management firms are setting roots down in Europe where, they say, there are many opportunities waiting to happen. Firms such as The Carlyle Group--which has hired Mike Ramsay from Prudential Securities to build up a loans business--and The Blackstone Group Inc. are apparently looking to make their mark in the world of European CDOs. Recently, Highland Capital Management purchased ING Capital Management. And last year, Babson Capital Management acquired the CDO business of London-based Duke Street Capital Debt Management.