Complete news archive
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Acer Tree JV to expand CLO platform
Partnership driven by the vision to grow AUM to €2.5bn-€3bn
The run into difficult markets in 2023 has led to Acer Tree Investment Management’s decision to expand its CLO platform by partnering with alternative credit fund, Ymer SC, last month. The European CLO manager that debuted in 2022 says under the new plan, its CLO platform - the Logic Lane series – will target gradual CLO issuance, .......
News Analysis 17 March 2025
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Deep dive
Basel Committee launches SRT investigation
In a press release published yesterday, the Basil Committee on Banking Supervision (BCBS) announced its intention to launch an investigation assessing the benefits and risks posed by SRTs.
As part of its ongoing work to assess banks' interconnections with non-bank financial intermediation, BCBS agreed to conduct over the coming year a deep-dive investigation on SRTs.
Commenting on .......
News 14 March 2025
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Job swaps weekly: Wellington launches private real estate credit platform
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Wellington Management make a number of appointments to its newly launched private real estate credit platform. Elsewhere, KBRA Analytics has named a new chief strategy officer, while Marsh has appointed a head of political risk and structured credit.
Wellington Management has expanded its private investing capabilities with the formation of .......
Market Moves 14 March 2025
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Paragon's covered bond revives BTL RMBS HQLA debate
JP Morgan questions regulatory inconsistencies as covered bo...
Paragon Bank’s recent foray into the covered bond market has reignited the debate over High-Quality Liquid Asset (HQLA) eligibility for BTL RMBS. While Paragon’s new covered bond enjoys HQLA Level 1 status under the Liquidity Coverage Ratio (LCR), senior BTL RMBS bonds remain ineligible, even if they meet STS criteria.
The UK lender, historically a major issuer of .......
News 14 March 2025
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Aircraft ABS to return to pre-covid cruising altitudes
Four deals in quick succession suggest 2025 will significantly outpace last year's activity
Aircraft ABS is on track to return to pre-Covid levels following some quieter years. Issuance is predicted to reach US$10bn this year – almost twice the levels of 2024 – with secondary trading and aviation loan markets expected to be highly active throughout the rest of 2025.
Bullish sentiment is taking over the market, according to Rich .......
News 13 March 2025
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Reflections on the recent CLO equity BWIC of 11 March
Poh-Heng Tan from CLO Research provides insights on a recent CLO equity list
Based on SCI BWIC data, between 17 July 2024 and 8 March 2025, approximately 66 US CLO equity tranches from the 2021 vintage appeared on BWIC lists, where list owners provided colour on the equity tranches. Based on this colour, US CLO equity tranches from the 2021 vintage recorded a median IRR of 7.8%, with the 75th percentile .......
Talking Point 13 March 2025
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Latest SRTx fixings released
Slight retreat from last month's widening
As the prospect of a barrage of trade tariffs increases significantly, policy rates are very likely to remain restrictive. In fact, such macro-political environment strongly supports the view of policy rates staying higher versus pre-pandemic levels. In this context, the illiquidity premium found and associated with private credit means buy-and-hold SRT investors can potentially find additional return opportunities.
News 13 March 2025
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US CLO fintech expands presence whilst navigating regulation, loan scarcity
Siepe's US$30M investment fuels innovation in CLO optimisati...
With the recent expansion of Siepe’s operations to Europe and Malaysia, the US-based fintech providing solutions for CLO and private credit managers highlights regulation hurdles and supply scarcity as the main challenges it has encountered.
Speaking to SCI, Siepe CEO Michael Pusateri, says despite the challenges interplay between client needs and regulatory influences creates a compelling narrative .......
News Analysis 12 March 2025
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EIB inks SRT with Czech lender
SRT to support Czech SMEs and mid-caps
The EIB Group has completed a new synthetic securitisation with Czech bank Ceska Sporitelna (CSAS).
Under the transaction, the EIF will provide a €55m unfunded guarantee in a mezzanine tranche with the objective of enabling CSAS to expand to expand lending to SMEs and mid-caps in the Czech Republic. The junior and senior tranches are retained by CSAS. The .......
SRT Market Update 12 March 2025
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CLO secondary trades show appetite for equity tranches
CLO Research Group's Poh-Heng Tan provides insights on recent CLO equity BWIC activity
Timing is always crucial in trading, and it is no surprise that selling CLO equity tranches in today’s strong market can be rewarding, says Poh-Heng Tan, founder of CLO Research Group.
Recent BWIC colour on CLO equity tranches indicates that many have traded very well. Looking at trades that took place between 27 February and .......
Talking Point 11 March 2025
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Bridging finance business set to scale amid market demand
Faes & Co ceo Christian Faes outlines his strategy to expand the firm's footprint in the US
Faes & Co, the investment firm led by former LendInvest founder Christian Faes, plans to expand its US real estate bridging finance business following a funding boost from OakNorth Bank last month. The firm launched its lending arm, F2 Finance, in early 2023 and is currently providing short-term RE loans across 14 states, including California, Texas and .......
The Structured Credit Interview 11 March 2025
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Blackstone and ITE Management ink US$2bn strategic partnership
The deal includes a minority investment and a forward-flow agreement
Funds managed by Blackstone Credit & Insurance (BXCI) have acquired a minority stake in ITE Management and committed up to US$2bn in capital via a forward-flow agreement, fuelling a joint push in transportation infrastructure finance.
The partnership aims to leverage BXCI and ITE’s expertise to tap into growing asset backed finance (ABF) opportunities in rail, .......
News 11 March 2025
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Job swaps weekly: Accunia bolsters Copenhagen team
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Accunia Credit Management adding two structured finance pros to its Copenhagen office. Elsewhere, Pallas Partners has snapped up two partners from Kasowitz Benson Torres, while fintech firm Inbank has elected a senior structured finance executive from Spectrum Principal Asset Management to its supervisory board.
Accunia Credit Management has hired two .......
Market Moves 7 March 2025
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Insurers trade new products to relieve downgrade pain
DelphX CM unveils instruments to address ballooning capital charges
Two deals are being currently negotiated between four insurers and hedge funds with the use of a new product designed to hedge increased capital charges, according to Patrick Wood ceo and president of DelphX Capital Markets (DCM)- creator of the innovatory instruments.
News 6 March 2025
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February CLO market update
European CLO market surges in early 2025 with record issuanc...
Deutsche Bank’s latest CLO monthly report highlights how February was another busy month for the European CLO market, with new issuance totalling €9.1bn across 19 deals, while reset volumes reached €2.2bn from five transactions. This brings year-to-date (YTD) new issue volumes to €12.2bn from 26 deals across 24 managers—double the volume compared to the same period last year. Reset .......
News Analysis 6 March 2025
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FT snaps up Global ABS and ABS East
Sale of Invisso by Delinian sees structured finance conferences come under FT Live banner
The Financial Times has acquired Invisso, parent company of structured credit conferences Global ABS and ABS East, from Delinian. The deal will see the transfer of Invisso’s full portfolio – also including the Central & Eastern European Forum, the Covered Bond Congress and the Global Borrowers and Bond Investors Forum – to the FT Group.
The transaction comes .......
News 5 March 2025
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CLO investors face rising risks
Declining credit enhancements, increased warehouse activity,...
CLO investors are grappling with declining credit enhancements and tighter spreads, raising concerns about risk assessment and future returns. Speaking to SCI, market sources highlight challenges for mezzanine and equity investors as attachment points weaken.
Despite these pressures, increased warehouse activity suggests stronger European CLO issuance ahead. SCI’s sources emphasise the importance of stress testing and careful credit .......
News Analysis 5 March 2025
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Number four for 400CM
Market updates and sector developments
400 Capital Management (400CM), a New York-based alternative credit asset manager, today (March 4) announced that its fourth private credit fund – Asset Based Term Fund IV – has closed with over US$1.39bn in commitments. The initial target was US$1bn.
Market Moves 4 March 2025
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Expanding horizons for renewable ABS
As investor interest and regulatory support surge, the Europ...
The European renewable ABS market is poised for significant growth, driven by increasing investor interest, regulatory tailwinds and evolving financing needs. In a recent discussion hosted by KBRA, Gregor Burkart, head of structured finance at Enpal, Erik Welin, loan officer at the EIB, and Barclays’ Gordon Beck, md of securitised products solutions, shared their perspectives on the market's evolution .......
News Analysis 4 March 2025