TCW
Last year's winner has the experience, resources and reputation to survive a shrinking field of competitors, nominators said. TCW, led by group managing director Lou Lucido, closed six deals before August in 2007, according to Standard & Poor's.
BlackRock
The manager's deals have performed better than most managers, according to one nominator. And its absence from the ever-growing list of managers whose CDOs have experienced EOD is a testament to that. BlackRock's appointment to manage the SIV bail-out fund that never was was also telling of its reputation, as was the fact that chairman Larry Fink was offered the top spot at Merrill Lynch. Among the deals BlackRock closed in the first half of 2007 were the $1 billion Tenorite CDO I and the $1.5 billion Tourmaline CDO III.
AIG Investments
In one of the few asset classes where deals could still be completed, AIG Investments was noted for the quality of its offerings. The manager struck this spring with two CLOs before illiquidity gripped the market, issuing Saturn CLO and Galaxy VIII.