The former Triumph Capital Advisors doubled its business by acquiring Doral Bank's CLO assets; Dodd-Frank’s “skin in the game” regs spurred its spin-off as a vehicle of deep-pocketed Pine Brook.
Chinese banks and insurance companies represent a new and potentially large source of capital that could crowd out U.S. banks as investors in collateralized loan obligations.
The Loan Syndications and Trading Association is appealing directly to Treasury Secretary Steven Mnuchin to exempt collateralized loan obligation managers from rules requiring "skin in the game" of deals.
A carve-out that shielded billions of dollars in collateralized loan obligations from Dodd-Frank's risk-retention mandate could work against banks and other CLO managers if Dodd-Frank is overhauled.
