search   Knowledge Bank printable version
 Knowledge Bank
 Deal Information
 Industry Events
 Advocacy Forums
 Site Utilities
 Free Offers

Click here to
Update Registration

Please be advised that the use of ®
is subject to the
Terms & Conditions

of use and the
Privacy Policy


Best viewed in

Knowledge Bank > Hedge Funds
Select an area

FREE Three-week trial of Asset-Backed Alert's newsletter

Fund Firm Turns Eye to Securitized Issues
Asset Backed Alert, Harrison Scott Publications Inc. (September 5, 2003)

D.E. Shaw wants to start buying asset-backed securities.

Word has it the $5 billion hedge-fund operator is thinking about setting up a stand-alone vehicle to purchase an unspecified amount of securitized products, although it's also possible that the New York firm will make the investments via existing funds.

Details are sketchy, but it's known that D.E. Shaw is searching for an experienced asset-backed trader to head the initiative. The individual would research D.E. Shaw's ABS investments while helping to hire a group of junior traders that he would oversee.

D.E. Shaw hasn't been an active buyer of asset-backed securities before, although it has invested in other fixed-income products -- even after the late-1998 bond-market rout led to a $200 million loss for its highly leveraged portfolio. The firm, known for its quantitative-trading strategy, invests in a variety of stocks, bonds, derivative products and distressed securities through its hedge funds. It also makes venture-capital investments in technology companies. D.E. Shaw was founded in 1988 by chief executive David E. Shaw, who earlier helped set up the quantitative-trading desk at Morgan Stanley.



© Copyright 2014. The Mayer Brown Practices. All rights reserved.

Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the “Mayer Brown Practices”). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe – Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC 303359); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated entities in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. “Mayer Brown” and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

Legal Notices | Attorney Advertising | Site Index | Contact Webmaster

*The site links listed on this web site are for reference use only.
The firm does not necessarily sponsor, endorse or verify the accuracy of the content contained in any of these sites.