Structuring and Risk Transfer

• The ICP team has been advising clients on portfolio engineering and structuring/restructuring solutions since 2000 - the $11 billion to create improved efficiencies within their structured credit portfolios.
  
  
• Approximately $1 billion in restructurings completed in 2008.
  
  
• ICP works closely with its clients to define their specific needs and determine the most effective solutions to meet their stated goals. ICP's engagements have included portfolio restructurings at the underlying collateral level and restructurings of larger pools of securities.
  
  

Case Studies

Hedge Fund Client

• Portfolio consisting of several billion ABS/MBS assets including Prime, Sub-Prime, Alt-A, Agency.



• ICP Advisory and Solutions provided valuations on the portfolio for the fund's year-end financials.



• ICP was engaged to assist the portfolio risk management team and provide monthly valuation updates on the entire portfolio.

Bankruptcy Advisor

• The lead advisor to the creditors of a bankrupt mortgage originator hired ICP to be lead valuation agent for the assets being liquidated.



• ICP provided valuation and credit packages for the assets, which included residuals related to over $10 billion in mortgage collateral and servicing rights.



• ICP also valued the origination platform, providing assessment of the platform's new origination capabilities.



• ICP’s valuations enabled the creditors to maximize recovery value on the liquidated assets.

ICP maximizes value for liquidations and asset sales by:

• Developing value propositions within the greater market context, including relative value analysis.



• Generating detailed asset evaluation reports, such as credit packages for distribution to market participants and bidders, including pool stratifications, historical delinquency/default, and ICP performance projections.



• Operating BWIC liquidation auctions.



• Providing sellers with direct access to end-buyers.