Complete news archive
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Fund finance: NAV boom - video
Dechert partner Anthony Lombardi speaks to SCI about fund finance and the rise of NAV facilities
Anthony Lombardi, partner at Dechert, speaks with SCI's Marta Canini about emerging opportunities in fund finance. He highlights the rapid growth of NAV facilities, driven by rising liquidity demands in the US and UK, the expansion of private capital funds, market maturation, and cyclical challenges. Lombardi also shares his outlook on the future trajectory of the fund finance market.
....... News Analysis 18 December 2024
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Bank bid back
Agency MBS enjoy renewed bank demand, boding well for 2025
News Analysis 17 December 2024
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Muted ABS reflects mixed sentiment
European ABS slowed in November, reflecting seasonal trends...
November marked a quieter month for the European ABS market compared to the preceding months of 2024, according to European and UK factsheets monitored by SCI. While consensus emerged on the slowdown in primary issuance and market activity, asset managers TwentyFour Asset Management, Aegon and Amundi presented nuanced perspectives on the sector’s outlook, risks and opportunities.
Across the .......
News Analysis 17 December 2024
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MidOcean Partners closes inaugural CLO equity fund
The US$304m fund will invest in the equity tranches of the firm's managed CLOs
MidOcean Partners has closed its inaugural CLO equity fund with US$304m in capital commitments and support from a diverse base of institutional investors including existing clients.
The alternative asset manager said MidOcean CLO Equity Fund I aims to generate risk-adjusted returns by acquiring equity tranches in CLOs managed by MidOcean.
Led by Joseph Rotondo and Jamil Nathoo, .......
News 17 December 2024
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Sustainability first
Ryan Jaskiewicz, president of structured finance at Climate First Bank, answers SCI's questions
Q: Climate First Bank, the world’s first FDIC-insured bank dedicated to the environment and sustainability, recently announced its structured finance expansion, with you leading the effort. What motivated this move, and why now?
The Structured Credit Interview 16 December 2024
A: From the beginning, the bank’s original business plan included a factoring and asset-based lending department. These offerings fall under what we now call the structured finance .......
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Job swaps weekly: Dentons elects Europe board members
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Dentons elect new members to its Europe board and hire a new partner in London. Elsewhere, Deutsche Bank has appointed a former Citi executive as lead structurer, while fintech company Intain has lured a structured credit, derivatives and mortgages veteran to its board.
Dentons has elected its European and Italian .......
Market Moves 13 December 2024
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Two's company..
More buyers than ever but less see reg cap trades, says research
News Analysis 12 December 2024
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Hitting high notes
Music IP royalty ABS set to rock in 2025
After a nearly two-year public market hiatus, music IP royalty ABS have experienced a revival - with over US$2.5bn in public deals closing so far in 2024, complemented by activity on the private side during the interim. The public market comeback highlights the growing mainstream recognition of music IP as a stable, non-correlated asset class, backed by blue-chip sponsors .......
News Analysis 12 December 2024
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Latest SRTx fixings released
Shift in liquidity
Undeniably, the political uncertainty which surround the US presidential election has reduced and turned to policy anticipation. With it the dollar strengthened, US stocks reacted positively, and treasury yields moved higher. Such recalibration would suggest and reflect some enthusiasm for pro-growth policies, but also near-term inflation and fiscal uncertainty. The scope and timing of legislative changes under a second Trump presidency remain .......
News 12 December 2024
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Scaling up
AfDB and partners sign agreement for multi-originator synthetic securitisation
The African Development Bank Group (AfDB), together with the Development Bank of Southern Africa (DBSA) as well as key institutional investors including Academy Securities, Africa50, and Newmarket, have signed a Letter of Intent to explore the establishment of a multi-originator synthetic securitisation transaction.
It marks a significant step in the Bank Group’s realization of its vision embodied by .......
SRT Market Update 10 December 2024
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Mubadala Capital to acquire minority stake in Silver Rock Financial
Partnership will give Silver Rock Financial access to Mubada...
Mubadala Capital is to acquire a 42% stake in Silver Rock Financial through cash and stock. The acquirer, the alternative asset management subsidiary of Abu Dhabi sovereign wealth fund Mubadala Investment Company, said this stake could increase to 50% over time, with plans to invest over US$1bn in Silver Rock funds as part of the agreement.
The partnership aims to .......
News 6 December 2024
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Job swaps weekly: HPS leaders to join BlackRock following acquisition deal
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees HPS Investment Partners’ ceo and governing partners joining BlackRock following the latter’s acquisition of the former. Meanwhile, Pemberton has appointed the former head of the secured funding and ABS team at Alantra as head of origination for its risk sharing strategy, while Encina Lender Finance (ELF) has added two structured credit .......
Market Moves 6 December 2024
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Early signs of European CMBS revival
The European CMBS market is showing signs of reboun...
The European CMBS market is gradually showing signs of a resurgence after years of stagnation, with 2024 bringing an uptick in issuance, according to panelists at SCI’s Annual European CRE Finance Seminar in London in late November. CMBS is becoming an increasingly important financing tool across various asset classes, including logistics, data centres and the evolving office space.
Despite .......
News Analysis 6 December 2024
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SRT: Unlocking opportunities – video
A&O Shearman's Robert Simmons speaks to SCI about th...
Robert Simmons, senior associate at A&O Shearman, speaks to Joe Quiruga about the SRT markets on each side of the Atlantic. Simmons discusses the effect of Basel 3 endgame on Europe and North America, regulatory issues impeding issuance in the European market, the evolving role of lawyers as the SRT space becomes more programmatic, and more.
....... News Analysis 5 December 2024
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Green framework
EIF ramping up sustainable SRTs
Following a recent stream of deal announcements, we catch up with Cyril du Boispean, investment manager at the EIF, to reflect on the financial institution’s bustling and sustainable SRT pipeline.
Late last month, the EIB group announced the completion of three synthetic securitisations, with each displaying and incorporating a green framework. The first announcement highlighted a new collaboration between the .......
News Analysis 5 December 2024
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Cruise control: Stable outlook for ABS and MBS in 2025
JP Morgan strategists predict stable European, UK and Austra...
As we approach 2025, strategists at JP Morgan foresee a year of steady performance for the ABS and MBS markets across Europe, UK and Australia. While 2024 set records for issuance volumes, the outlook for 2025 reflects a cautiously optimistic tone amid global uncertainties.
JP Morgan’s research highlights that 2024 was a landmark year, with European ABS issuance .......
News Analysis 5 December 2024