Cullinan Finance was a Structured investment vehicle (SIV) run by HSBC with total asset portfolio around US$27 billion.[1]
It was established in 2005. As of 2007 it was managed by a team led by Dominic Swan, who previously led the SIV-rating department at Moody's.
It was notable for growing faster than any other SIV so far and was as of 2007 one of the six largest SIVs.[citation needed]
On 26 November 2007, HSBC announced that it would rescue two SIV's, Cullinan Finance and Asscher, by moving them onto its balance sheet and providing up to $35 billion.[2]
As of 2008, Cullinan Finance Limited is in liquidation.[3]
References
edit- ^ (Fitch: ABCP conference 2007). [Clarify?]
- ^ FT.com / Companies / Financial services - HSBC in $45bn SIV bailout
- ^ "Stocks". Bloomberg News.
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