Cypress Holding Company and Harborview Capital Form Alliance.Business Editors BOSTON--(BUSINESS WIRE)--April 23, 2001 Cypress Cypress, city, United States Cypress (sī`prəs), city (1990 pop. 42,655), Orange co., S Calif. near Long Beach; inc. 1956. Forest Lawn–Cypress, a branch of the famous cemetery in Glendale, Calif. Holding Company and Harborview Capital Management Co, Inc. announced today that Harborview Capital has purchased an exclusive option to acquire Cypress, which currently manages collateralized loan obligation Collateralized loan obligation (CLO) A security backed by a pool of commercial or personal loans , structured so that there are several classes of bondholders with varying maturities, called tranches. Similar in structure to Collateralized Mortgage Obligations. (CLO CLO See: Collateralized Loan Obligation. ) products, is sub-adviser to two senior floating rate mutual funds offered by American General and manages money for insurance companies. Cypress's Board of Directors stated that the decision to join forces with Harborview Capital was based on a desire to build its portfolio management and marketing teams and to position the company for future growth. Cypress further stated that combining its strong reputation and domestic presence with Harborview Capital's marketing resources and international experience positions the company to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. opportunities both domestically and internationally. Harborview Capital President, Richard E. Omohundro, Jr., CFA (Computer Fraud and Abuse Act of 1986) Signed into law in 1986, the CFA was a significant step forward in criminalizing unauthorized access to computer systems and networks. The Act applies to "federal interest computers" that include any system used by the U.S. , stated that current volatility in the equity market offers significant opportunities for CypressTree loan products and that a refocused marketing campaign is scheduled to begin this month. Cypress was established in 1996 and its wholly-owned subsidiary, CypressTree Investment Management Company, Inc., is the nation's first independent investment management firm focused exclusively on the senior loan asset class. The firm manages senior loan assets for institutional and retail clients. Harborview Capital Management Co, Inc., formerly Prospect Street Investment Management Co., Inc., was established in 1988 and created the first institutional CLO in 1990. Harborview Capital, through an affiliated company, also markets a family of offshore funds based in Guernsey Guernsey (gûrn`zē), island, 25 sq mi (65 sq km), in the English Channel, second largest of the Channel Islands. Guernsey bailiwick (2005 est. pop. 65,000) includes Alderney, Sark, Herm, Brechou, Jethou, and smaller islands. , Channel Islands. |
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