The Timeline of Magnetar’s Deals
From the middle of 2006 to the summer of 2007, Magnetar helped to create and invested in at least 28 subprime mezzanine CDOs, or collaterized debt obligations, deals it often bet against while also pushing for riskier assets to go inside them. The black circles below represent the amount in dollars of their identified deals by month while the blue circles represent the total amount in dollars of the same type of subprime CDOs issued during that time.
Magnetar declines to specify which CDOs it invested in but ProPublica identified 26 of them, 24 of which are subprime mezzanine CDOs.
Sources: PF2 Securities Evaluations Inc., S&P, ProPublica
| Transaction Name | Closing Date | Liabilities Issued | Investment Bank | CDO Manager | Documents |
|---|---|---|---|---|---|
| May 2006 | $833,660,000 | ||||
| Orion 2006-1 Ltd. | May 25, 2006 | $833,660,000 | Calyon | NIBC Credit Management Inc. | |
| July 2006 | $1,000,000,000 | ||||
| Cetus ABS CDO 2006-1 | July 21, 2006 | $1,000,000,000 | Citigroup Global Markets Inc. | GSC Partners | |
| September 2006 | $4,504,000,000 | ||||
| ACA Aquarius 2006-1 Ltd. | Sept. 12, 2006 | $2,000,000,000 | UBS Warburg LLC | ACA Management LLC | Prospectus |
| Octans CDO I Ltd. | Sept. 26, 2006 | $1,504,000,000 | Merrill Lynch | Harding Advisory LLC | Prospectus |
| Cetus ABS CDO 2006-2 Ltd. | Sept. 27, 2006 | $1,000,000,000 | Citigroup Global Markets Inc. | GSC Partners | Prospectus |
| October 2006 | $7,756,740,000 | ||||
| Pyxis ABS CDO 2006-1 LLC | Oct. 3, 2006 | $1,017,340,000 | Calyon | The Putnam Advisory Company | |
| Octans II CDO Ltd. | Oct. 12, 2006 | $1,575,000,000 | Wachovia Securities Inc. | Harding Advisory LLC | |
| Libra CDO Ltd. | Oct. 17, 2006 | $1,565,400,000 | Lehman Brothers Inc. | Lehman Brothers Asset Management LLC | Prospectus |
| Scorpius CDO Ltd. | Oct. 26, 2006 | $1,504,000,000 | Merrill Lynch | Strategos Capital Management LLC | Prospectus |
| Vertical Virgo 2006-1 Ltd. | Oct. 31, 2006 | $2,095,000,000 | UBS Warburg LLC | Vertical Capital LLC | |
| November 2006 | $7,914,480,000 | ||||
| Carina CDO Ltd. | Nov. 1, 2006 | $1,565,680,000 | Deutsche Bank Securities Inc. | State Street Global Advisors | Prospectus |
| Cetus ABS CDO 2006-4 Ltd. | Nov. 15, 2006 | $1,500,000,000 | Citigroup Global Markets Inc. | GSC Partners | Prospectus |
| MKP Vela CBO Ltd. | Nov. 16, 2006 | $1,554,300,000 | Lehman Brothers Inc. | MKP Capital Management LLC | Prospectus |
| Cetus ABS CDO 2006-3 Ltd. | Nov. 28, 2006 | $1,294,500,000 | Calyon | GSC Partners | Prospectus |
| Lacerta ABS CDO 2006-1 Ltd. | Nov. 29, 2006 | $2,000,000,000 | Citigroup Global Markets Inc. | Prospectus | |
| December 2006 | $4,069,450,000 | ||||
| Octans III CDO Ltd. | Dec. 6, 2006 | $1,000,000,000 | Citigroup Global Markets Inc. | Harding Advisory LLC | |
| Orion 2006-2 Ltd. | Dec. 7, 2006 | $1,559,000,000 | Calyon | NIBC Credit Management Inc. | |
| Auriga CDO Ltd. | Dec. 20, 2006 | $1,510,450,000 | Merrill Lynch | 250 Capital LLC | |
| February 2007 | $2,000,000,000 | ||||
| Draco 2007-1 Ltd. | Feb. 22, 2007 | $2,000,000,000 | UBS Warburg LLC | Declaration Management & Research LLC | Prospectus |
| March 2007 | $5,209,000,000 | ||||
| Norma CDO I Ltd. | March 1, 2007 | $1,500,000,000 | Merrill Lynch | NIR Capital Management LLC | Prospectus |
| Pyxis ABS CDO 2007-1 Ltd. | March 6, 2007 | $1,579,000,000 | Lehman Brothers Inc. | The Putnam Advisory Company | Prospectus |
| Volans Funding 2007-1 Ltd. | March 14, 2007 | $1,100,000,000 | Calyon | Vero Capital Management | |
| Sagittarius CDO I Ltd. | March 15, 2007 | $1,030,000,000 | Wachovia Securities Inc. | Structured Asset Investors LLC | Prospectus |
| Tigris CDO 2007-1 Ltd.* | March 15, 2007 | $698,400,000 | Mizuho International PLC | Harding Advisory LLC | |
| May 2007 | |||||
| Squared CDO 2007-1 Ltd.* | May 11, 2007 | $1,087,996,000 | J.P. Morgan Securities Ltd. | GSC Partners | Prospectus |
| July 2007 | $1,627,000,000 | ||||
| Delphinus CDO 2007-1 Ltd. | July 19, 2007 | $1,627,000,000 | Mizuho Securities USA | Delaware Asset Advisors | |
*Denotes a deal that is not incorporated into the graphic or monthly total since it is a different type of CDO.
Sources: PF2 Securities Evaluations, Inc., S&P, ProPublica
