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Home > Financial Services > Accountants > Centre Pacific LLC
Centre Pacific LLC
Centre Pacific is a fixed income asset manager concentrating in the management of CDO the Collateralized Debt Obligations and other structured products. They maintain a distinct advantage through wide experience, superior performance and a focus on the Collateralized Debt Obligations market and structured products markets.
Centre Pacific LLC is a fund investment of Centre Capital Investors III LP, a private equity fund managed by Centre Partners Management, LLC. Lately, Centre Partners and the management of Centre Pacific agreed to estimate a range of strategic alternatives regarding the future development of Centre Pacific. Bank of America has been hired to assist them in this process.
Centre Pacific was formed in 2000 with a team formerly from Transamerica. The five founding partners of Centre Pacific have worked together over 15 years. Centre Pacific has one of the longest and most reliable track records in the CDO market place. The Centre Pacific team entered the CDO marketplace in 1996 and has since completed 12 CDOs across 4 fixed income platforms such as high yield bonds, asset backed securities, leveraged loans, and investment grade synthetics. Centre Pacific’s most recent transactions include Whitney CLO a $450 million contract priced in December 2004 and Trinity CDO which is a $300 million mezzanine asset backed deal priced in April 2005. In addition, Centre Pacific has recently entered the mutual fund marketplace with the start on of a Canadian leveraged loan fund.
Credit focus is on rigorous analysis of the credit performance and relative value of existing and potential portfolio holdings. 10 of the 19 investment professionals have worked together for an average of 15 years. Conservative bias emphasizes buy decision with constant review of relative value. Capital at risk is significant capital commitment to equity underpinning the CDOs Portfolio management assignment. All CDOs have assigned primary and back-up portfolio managers.
As supported by overall low portfolio turnover, Centre Pacific buys leveraged loans and high yield bonds expecting a natural take out, such as refinancing, tender or maturity. Relative value trades; recycle gains on credit positions to build collateral value. In the event of a default, the investment committee determines an exit strategy for the position. Centre Pacific may consult with external counsel and may join workout committees.
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