Aladdin launches CDPC

Aladdin Capital Management says it has launched a credit derivatives product company, having obtained triple A ratings from Moody’s and Derivative Fitch. The CDPC is called Aladdin Financial Products and will sell credit protection on investment grade corporate, sovereign and other obligations.

George Marshman, Aladdin Capital’s chief investment officer, says the timing is excellent to start the business. The firm believes that demand for highly-rated takers of corporate credit risk is likely to remain high.

Aladdin Capital was established in 1999 and is headquartered in Stamford, Connecticut. It has around $21.5 billion under management.