Mizuho Corporate Bank, Ltd. (President & CEO: Hiroshi Saito) established and commenced business operations at its wholly owned European asset management subsidiary, Mizuho Investment Management (UK) Ltd. ("MIMUK"), on June 26, 2006. In conjunction with this establishment, Mizuho Corporate Bank will transfer to MIMUK its asset management operations covering European leveraged loans such as the Harvest CLO program.
Mizuho Corporate Bank is the only Japanese bank to develop an asset management business for the leveraged loan CLO (Collateralized Loan Obligation) market. The Harvest CLO program in Europe is currently comprised of four CLO's and totals approximately EUR2.5 B (JPY355 B) of assets under management. This makes it the largest bank-managed cash CLO business in Europe and places Mizuho Corporate Bank at No.5 among European CLO managers.
Mizuho Corporate Bank became the first Japanese bank to establish a subsidiary specializing in this field, aiming to enhance its asset management capabilities for leveraged loans. Along with the existing Harvest CLO business, Mizuho Corporate Bank plans to expand its repertoire of leveraged finance products to include mezzanine funds (funds for supporting mezzanine loans) and private equity investment-backed CFO (Collateralized Fund Obligation).
MIMUK Outline
| Name | Mizuho Investment Management (UK), Ltd. |
|---|---|
| Location | Bracken House, One Friday Street, London, EC4M 9JA, UK |
| Business | -Investor asset management -Investment advisory -Provision of and advisory regarding information on securities -Underwriting and sales of public securities and structuring of various investment products |
| Paid-in Capital | GBP12 M (JPY25.3 B) |
| Shareholders | Wholly-owned subsidiary of Mizuho Corporate Bank |