Cullinan Finance

Cullinan Finance is a Structured investment vehicle (SIV) run by HSBC with total asset portfolio around $27 billion USD.^[1]

It was established in 2005. As of 2007 it was managed by a team led by Dominic Swan, who previously lead the SIV-rating department at Moody's.

It was notable for growing faster than any other SIV so far and is as of 2007 one of the six largest SIVs.^{[citation needed]}

On 26 November 2007, HSBC announced that it would rescue two SIV's, Cullinan Finance and Asscher, by moving them onto its balance sheet and providing up to $35 billion.^[2]

References

1. ^ (Fitch: ABCP conference 2007). [Clarify?]
2. ^ FT.com / Companies / Financial services - HSBC in $45bn SIV bailout