Cairn Capital
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David Littlewood |
Cairn distinguished itself over the past year by adding to its collateralized debt obligation management platform with replacement mandates, the only European firm to do so. Even more significantly, the manager has taken over mandates from U.S. companies, leveraging its name abroad and its strong U.S. and European ABS businesses. “[Cairn has] a really good track record and they are very innovative,” commented one industry official.
To date, Cairn has taken over management of the $1.2 billion White Marlin CDO from Stamford, Conn.,-based Sailfish Capital Partners; the $600 million Stillwater 2006-1 from Minneapolis, Minn.-based Long Lake Partners; and the $1.2 billion Faxtor 07-1 CDO from Netherlands-based Faxtor Securities.
Cairn is also seen as a savvy credit manager, rejiggering its Cairn High Grade Funding I structured investment vehicle last August when other SIV managers were hoping the credit crunch would just go away. Cairn has also been appointed advisor to the Golden Key SIV formerly run by Geneva-based asset manager Avendis. Cairn's executive management committee is composed of David Henriques, David Littlewood, James Starkey, Paul Campbell, Robert Pierce Jones and Tim Frost.