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OHA manages approximately $61 billion of capital across credit strategies in pooled funds, collateralized loan obligations and single investor mandates as of June 30, 2023. The success of Harrington is built upon a clear set of operating principles which equally value customers, suppliers, and employees.
For me, I sat mostly in their internal, really an internal hedge fund. They borrowed money at live bid at the time. Perhaps most famously you guys put on a CO bet, a collateralized debt obligation bet that was designed to do well if housing made some extreme moves and it was non-directional, it was hedged. Oh, really?
RITHOLTZ: You hit the bid before — RIEDER: Well, yes. Which is run by many insurance companies, pensionfunds who use Aladdin, and it’s a commercial enterprise for the firm. Didn’t it start as a bond shop, catering to pensionfunds and foundations? It’s the collateral. RIEDER: Yeah.
We spent weeks, night and day, studying it, decided it wasn’t a good deal, decided not to bid, which I’m fine with. And then when we decided not to bid at 90, it eventually went up to, you know, 111 or something like that. And you know, so we looked at it very hard, decided not to bid. KLINSKY: Yup.
In addition to BMW and Volkswagen AG , Northvolt’s top investors included Goldman Sachs’s asset management arm, Denmark’s biggest pensionfund ATP, Baillie Gifford & Co. funds and a number of Swedish entities. Northvolt will also have access to about US$145 million in cash collateral.
So you could say instead of buying a million dollars of the s and p 500, I’m gonna take $50,000, use it as cash collateral to buy s and p 500 futures, a million dollars of s and p 500 futures, which will give me the total return. 00:44:34 [Speaker Changed] Or at least lower their, their bid ass spread wide amounts of Yeah.
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