Complete news archive
-
-
SCI In Conversation Podcast: Gregor Burkart, Enpal
We discuss the hottest topics in securitisation today...
In this episode of the SCI In Conversation podcast, SCI's Selvaggia Cataldi speaks to Gregor Burkart, leader of the refinancing division at Enpal, about the company’s recent milestone in Europe’s renewable energy sector. Burkart shares insights into Enpal’s first residential solar securitisation program, which raised €240m, and discusses the company’s strategy, innovative financing methods, and their impact on investors, customers, and .......
News Analysis 14 November 2024
-
Zilch eyes zero-cost credit via ABS
Zilch paves the way for financial inclusion with plans for public ABS and IPO
In a bid to disrupt the revolving debt burden that impacts millions of consumers, London-based fintech Zilch is eyeing the next stage in its ambitious growth strategy with plans to expand its ABS facilities and eventually launch an IPO. The company, which says it has already saved customers £500m in interest fees since its inception four years ago, seeks .......
News Analysis 14 November 2024
-
Latest SRTx fixings released
SRTx figures display continuity
With market sources continuing to report a tightening in spreads for new issue trades (repeat benchmark deals from established issuers are seeing bids 100+ basis points tighter than comparable transactions from earlier in 2024), the latest SRTx fixings present a generally stable and coherent narrative, in line with the positive risk tone that has been prevalent since the summer .......
News 14 November 2024
-
Ex-Accunia exec to launch Euro CLO equity investment platform
Grane speaks to SCI about building a new London team and seeking investors
Christian Grane, the former head of investments at Accunia Credit Management, is aiming to launch a dedicated European CLO equity investment platform in the second or third quarter of next year.
Speaking to SCI, Grane, who left Accunia in September after five years, says he is currently in the process of speaking to potential investors and partners to launch .......
News 13 November 2024
-
Fund finance milestone
Investec and Ares ink 'first of its kind' subscription lines securitisation
Investec Fund Solutions, the fund solutions arm of Investec Bank, has recently inked a landmark partnership with alternative investment firm Ares Management to launch what is believed to be the first-ever subscription lines securitisation. The bespoke funding structure will allow Investec to scale its offering in response to the growing demand for subscription lines among private equity firms.
News Analysis 12 November 2024
-
SRT Journal: Moving parts
The second of five essays compiled in SCI's inaugural SRT Jo...
CRTs are becoming increasingly attractive to US regional banks, having historically remained almost exclusively the preserve of the so-called global systemically important banks (G-SIBs) in the country. Yet a much anticipated wave of issuance in 2024 has not fully materialised, with players entering the market more gradually and deliberately as they negotiate various challenges.
The growing interest had .......
News Analysis 12 November 2024
-
-
Monroe closes maiden CFO
Firm closes new vehicle in strategic private credit push
Monroe Capital has closed its inaugural collateralised fund obligation (CFO) – Monroe Capital CFO I – a US$315m vehicle designed to provide investors with diversified exposure across Monroe’s private credit platforms. The newly launched CFO marks a landmark step in Monroe’s private credit expansion, integrating its senior secured direct lending and alternative credit solutions into a single offering that .......
News 8 November 2024
-
EU CLO performance realigns with loan index post-volatility
CLO Research Group's Tan analyses how EU CLO managers' perfo...
European CLO managers have returned to performing on par with the Morningstar European Euro-Denominated Loan Index on average following four challenging years, says Poh-Heng Tan, founder of CLO Research Group, in this exclusive article for SCI. Yet individual results vary widely and investors should remember that CLO managers do not eliminate investment risk.
Talking Point 8 November 2024
-
Job swaps weekly: Ogier snaps up Dublin-based partner
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Ogier hiring a structured finance veteran from Matheson as partner in its Dublin office and promoting a real estate managing associate to partner in its Jersey practice. Meanwhile, Sidley has hired two long standing senior capital markets partners from Latham & Watkins, while Latham & Watkins has made a number of .......
Market Moves 8 November 2024
-
-
Election special
As America goes to the polls and the world watches, US edito...
News 5 November 2024
-
M&G unveils €200m ABS fund
Firm launches vehicle aimed at unlocking daily liquidity in high-grade securitised assets
M&G’s structured credit team has launched the M&G Investment Grade ABS Fund, a new daily liquidity fund with an initial €200m investment from pension schemes and family offices. The fund seeks to capture value in the global securitisation market, focusing on high-quality, investment-grade assets backed by residential mortgages, consumer, corporate, and automotive loans.
The fund’s strategy aligns with .......
News 5 November 2024
-
NAV in focus
Growing market 'key' to fund finance toolkit
Net asset value (NAV) lending volumes are poised to more than double over the next few years. Indeed, panellists at Invisso’s recent ABS East conference forecast that the market could grow from nearly US$150bn in 2024 to an estimated US$500bn by the end of the decade.
NAV loans are becoming an increasingly relevant tool within the broader US$1.2trn .......
News Analysis 5 November 2024
-
SCI In Conversation Podcast: Jeffrey Stevenson, VSS Capital
We discuss the hottest topics in securitisation today...
In this episode of the SCI In Conversation podcast, SCI US editor Simon Boughey speaks to Jeffrey Stevenson, managing partner of VSS Capital, about the continued growth of private lending. Stevenson discusses how the private lending market has evolved over the past decade, the role that remains for traditional lenders, where he has seen value over the past year, .......
News Analysis 4 November 2024
-
Pre-judgment day ABS rush in Europe
October sees strong European and UK ABS issuance ahead of US presidential election
October ended with a surge in European and UK ABS and MBS issuance, with €3.5bn placed from seven deals in the final week of the month. This included €2bn of publicly marketed deals, bringing the total level of issuance for the month to €12bn.
JPMorgan strategists note: "October’s primary activity underscores the strong demand for securitised products across .......
News 4 November 2024
-
Democratising investment
Christian Parker, structured credit partner at Paul Hastings...
It’s a well-established truth that European retail investors have no access to credit investments in the form of loans. However, this isn’t quite right and overlooks the role of investment trusts, which have for many years offered retail investors exposure to credit markets. Funds managed or associated with Fair Oaks, CVC Credit Partners, AXA Investment Managers and others all .......
Talking Point 4 November 2024
-
SRT Journal: Growing pains?
The first of five essays compiled in SCI's inaugural SRT Jou...
The US Fed’s FAQ on CLNs in September 2023 sparked anticipation that the floodgates would finally open for US bank CRT issuance, resulting in many new investors exploring the sector and an initial wave of transactions. The momentum subsequently seen this year in US CRT has altered supply and demand dynamics, with some describing it as a banks’ market, .......
News Analysis 4 November 2024
-
-
Job swaps weekly: Linklaters lures four A&O Shearman partners
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Linklaters hiring four partners from A&O Shearman for its New York office. Elsewhere, the Prytania Solutions team has joined Houlihan Lokey’s structured products valuation advisory team as part of the latter’s acquisition of the former, while Danske Bank has snapped up a former senior Nordea executive as investment director.
Linklaters .......
Market Moves 1 November 2024