Cullinan Finance
Cullinan Finance is a Structured investment vehicle (SIV) run by HSBC with total asset portfolio around $27 billion USD.[1]
It was established in 2005. As of 2007 it was managed by a team lead by Dominic Swan, who previously lead the SIV-rating department at Moody's.
It was notable for growing faster than any other SIV so far and is 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]
References
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