Flavio Bartmann, formerly of Merrill Lynch, where he set up one of the first DPCs, is leading New Jersey-based Pallium's development.
Pallium promises to be among the first of the new generation of credit DPCs.It will take exposure to credit in both cash and derivatives formats, and will eventually develop other lines of business, such as writing guaranteed investment contracts.Pallium
aims to start fundraising in the second half of this year or early 2007.
"We want to do many more things in an AAA-rated vehicle than is done by the existing structured credit companies," says Bartmann
"The big issue here is market acceptance," says Bartmann