ACA Financial Guaranty Corp., a subsidiary of ACA Capital Holdings, has announced the signing of a letter of intent with FSI Capital to sell ACA's U.S. asset-backed securities and corporate credit CDO asset management business. The terms of the proposed deal were not disclosed. FSI Capital, through its affiliates and subsidiaries, manages 17 collateralized debt obligations totaling about $7.5 billion. ACA also announced its entry into a letter of intent with Resource Financial Fund Management Inc. to sell its U.S. collateralized loan obligation asset management business.
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