Managing an investment vehicle
AssigneeBlack Diamond Capital Management, L.L.C.
InventorStephen H. Deckoff
Life of this patent
Estimating the term…
Abstract
A method for managing an investment vehicle. The investment vehicle issues multiple debt instruments to a plurality of investors. The debt instruments have different liability characteristics. The proceeds of the debt instruments are invested in assets. From time to time, liabilities on the debt instruments and the credit quality of the assets is reevaluated, to ensure that the cash flows generated by the portfolio, disregarding fair market value of the assets, will be sufficient to pay timely principal and interest on the liabilities based on the evaluation criteria of two different rating agencies. In response to the reevaluating, the capital structure of the investment vehicle is adjusted to maintain a desired agency rating for the debt instruments.
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A method for investing, comprising the steps of:
- purchasing at least one debt instrument from an investment vehicle, an investment policy of the investment vehicle providing that the vehicle will have the power to:
- invest the proceeds of multiple debt instruments in assets having associated credit qualities, the debt instruments being issued from an investment vehicle to a plurality of investors and having different liability characteristics;
- from time to time, reevaluate liabilities on the debt instruments and the credit quality of the assets, to ensure that cash flows generated by the assets, disregarding fair market value of the assets, will be sufficient to pay timely principal and interest on the liabilities;
- and
- in response to the reevaluating, adjust a capital structure of the investment vehicle to maintain a desired agency rating for the debt instruments;
- and
- receiving a payment from the investment vehicle;
- at least some portion of the investment of proceeds, reevaluating, or adjusting being performed with the assistance of a computer.
A method for investing, comprising the steps of:
- purchasing at least one debt instrument from an investment vehicle, an investment policy of the investment vehicle providing that the investment vehicle will have the power to:
- invest the proceeds of multiple debt instruments in assets having associated credit qualities, the debt instruments being issued from an investment vehicle to a plurality of investors and having different liability characteristics;
- from time to time, reevaluate liabilities on the debt instruments and the credit quality of the assets, to ensure that cash flows generated by the assets will be sufficient to pay timely principal and interest on the liabilities based on evaluation criteria of two different rating agencies;
- and
- in response to the reevaluating, adjust a capital structure of the investment vehicle to maintain desired agency ratings for the debt instruments;
- and
- receiving a payment from the investment vehicle;
- at least some portion of the investment of proceeds, reevaluating, or adjusting being performed with the assistance of a computer.
Dependencies are inferred from the claim text.