China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The truth about Asian investment banking

June 2006

Best CDO manager: Cheyne Capital Management


The alternative investment manager has rewritten the rule book in structured credit this year thanks to its breathtaking pace of innovation.


The world’s best borrowers in 2006

Weiss (l) and Peacock (r): principal protected investments have driven institutional money
Established by Jonathan Lourie and Stuart Fiertz in 1999, Cheyne Capital Management has rapidly established an enviable reputation as one of the most innovative and successful alternative investment managers in the business. It has been in the CDO market since 2002 and now has nine deals under its belt; it has also written CDS trades worth more than $120 billion notional since 2003. The CDO and credit derivative business at Cheyne is run by co-heads David Peacock and John Weiss.

As CDO technology continues to blend with fund management technology, the pace of innovation in this space is breathtaking. Few firms can claim to be at the frontier of developments across the board; Cheyne is one of them. The company exploits its pre-eminent position in the credit hedge fund management and...


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