CMBS

Commercial mortgage-backed securities, or CMBS, are bonds or notes created via securitisation that are backed by commercial mortgages or other commercial real estate assets.
CMBS originators are typically financial institutions that originate commercial real estate or commercial mortgage loans, including banks, building societies/savings & loans and mortgage finance companies. To create commercial mortgage-backed securities, or CMBS, institutions sell pools of their loans to a special-purpose vehicle, or SPV, which then sells the loans to a trust. The trust then repackages the loans as interest-bearing securities and issues them. This true sale of the loans to the SPV ensures that the CMBS is treated as bankruptcy-remote from the originator.

  • Job swaps weekly: BBB elevates two to co-chief banking officer

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees The British Business Bank appointing two co-chief banking officers. Meanwhile, Latham & Watkins has poached an experienced White & Case structured credit executive as partner, while Centralis Group has hired a new Ireland Country head.

    The British Business Bank has appointed Richard Bearman and Reinald de Monchy as co-chief banking .......

    Market Moves 22 November 2024

  • Job swaps weekly: Senior Pemberton CLO exec launches Auctus Strategies

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees a former Pemberton Asset Management director launching her own sustainability consulting business. Meanwhile, Atlas SP has given its interim ceo the role on a permanent basis, while Climate First Bank has appointed a former 12five Capital veteran as president of its newly-created structured finance division.

    Ex-Pemberton Asset Management director Naomi .......

    Market Moves 15 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

  • 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

  • Clean and replenish

    Optimistic outlook for US CRE market is welcome news for CMBS and CRE CLOs

    A rebound in activity in the US CRE market is pointing to brighter times ahead for both CMBS and CRE CLOs. Activity in the CMBS issuance market is a welcome sign after a prolonged down cycle, despite ongoing challenges in office and retail.

    “We are seeing a strong turnaround,” states Jodi Schwimmer, partner at Reed Smith. “The market .......

    News Analysis 1 November 2024

  • Job swaps weekly: Kirkland names two new partners

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Kirkland & Ellis hiring two partners for its structured finance and structured private credit practice. Elsewhere, NPL Markets has made two senior appointments to its team, while Piper Sandler has named a new head of structured products trading.

    Kirkland & Ellis has hired Jared Axelrod and Suril Patel as partners .......

    Market Moves 25 October 2024

  • Job swaps weekly: MidOcean boosts capital formation capabilities

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees MidOcean Partners strengthen its ranks with the appointment of Jon Fox as global head of capital formation. He brings several decades of leadership and alternative asset management experience that will help to expand the firm’s investor relationships globally.

    Fox was formerly president of Värde, having joined that firm nearly 11 .......

    Market Moves 18 October 2024

  • Job swaps weekly: KBRA rings the changes

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees KBRA making multiple senior structured finance appointments including a new global head of ABS and RMBS. Elsewhere, a c-suite executive at PACE Funding Group has left the firm and transitioned away from structured credit with a move to Greenday Finance, while specialty finance company Encina Lender Finance has made two senior .......

    Market Moves 11 October 2024

  • Job swaps weekly: Blackstone lures two new partners

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Blackstone adding two new partners to its infrastructure and asset-based credit platforms. Elsewhere, ING has hired an industry veteran as head of asset securitisation for wholesale banking in APAC, while Castlelake has strengthened its existing European leadership with the appointment of a new partner.

    Blackstone is expanding its infrastructure and .......

    Market Moves 4 October 2024

  • Job swaps weekly: Toorak and Merchants parent names new coo

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Roemanu hire a former Finance of America Home Improvement president as its new coo. Elsewhere, Redding Ridge Asset Management has elevated a senior director to ceo in order to lead its CLO management businesses globally, while Cushman & Wakefield has appointed a co-head of EMEA equity, debt and structured finance.

    Market Moves 27 September 2024

  • Job swaps weekly: EIF exclusive

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees SCI exclusively reveal that the European Investment Fund’s chief investment officer is retiring from his role after almost three decades with the fund. Elsewhere, Performance Trust Capital Partners has poached three executives from Pagaya, while ELFA announces its ceo is to step down from her role.

    Alessandro Tappi is to .......

    Market Moves 20 September 2024

  • Breaking regulatory chains

    Calls for reform intensify as industry pushes to fuel growth and fund Europe's green transition

    The European securitisation market is “far too small and illiquid,” according to a recent report from True Sale International (TSI) and the Association of German Banks (BdB). The scale of the challenges could be having a negative impact on vital innovation across the continent’s economy.

    The report, titled ‘A strong, competitive Europe: unlocking the potential of securitisation’, underscores .......

    News Analysis 19 September 2024

  • Silver lining

    Optimism around strong growth in RMBS and ABS at S&P conference

    Market participants shared widespread optimism at S&P Global Ratings' European Structured Finance conference, buoyed by robust growth and the resilience of the European and UK ABS and MBS markets. Despite global economic challenges, issuance in these markets is experiencing strong momentum, performing even more favourably than 2023.

    Panellists and attendees at the event noted that the primary beneficiaries .......

    News 13 September 2024

  • Job swaps weekly: Chatham AM appoints four for new CLO management team

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Chatham Asset Management establishing a CLO management business with four key hires. Elsewhere, Freddie Mac has selected a new ceo, while Arini has named a CLO portfolio manager to replace Evangeline Lim, who is retiring from the industry.

    Chatham Asset Management has established a CLO management business - called CTM Asset Management – with .......

    Market Moves 13 September 2024

  • Off to a flier

    Busy week points to standout September for European and Australian ABS and MBS

    As the third quarter of 2024 winds down, September is shaping up to be a standout month for the European and Australian ABS and MBS markets. According to a recent JP Morgan report, the ABS market roared back to life in the first week of the month, following a volatile August marked by recession risks and central bank uncertainty.

    News 10 September 2024

  • Job swaps weekly: The 'Art' of launching

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees two industry veterans join forces to launch Art Capital, a structured finance advisory business. Elsewhere, Citi has boosted its Oceania operation with a new head of asset-backed securitisation, while Cushman & Wakefield has hired a head of capital markets for the Americas from Five Horizons Partners.

    Stuart Blieschke and Tim .......

    Market Moves 6 September 2024

  • SCI In Conversation Podcast: Mike Nowakowski, Conning

    We discuss the hottest topics in securitisation today...

    In this episode of the SCI In Conversation podcast, SCI US editor Simon Boughey speaks to Mike Nowakowski, md and head of structured products at Conning, about esoteric ABS and both the agency and non-agency MBS markets. Nowakowski discusses what attracts him to the esoteric space; the type of esoterics that currently offer the most value; potential upcoming tailwinds .......

    News Analysis 3 September 2024

  • Job swaps weekly: Norton Rose Fulbright adds Paris-based partner

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Norton Rose Fulbright adding a partner to its banking and finance practice in Paris. Elsewhere, CBRE has lured a new executive director to its European debt and structured finance team from Rothesay, while Alantra has appointed a structured-finance-focused senior advisor.

    Norton Rose Fulbright has strengthened its banking and finance practice .......

    Market Moves 30 August 2024

  • CLO analytics firm eyes private credit

    Market updates and sector developments

    Siepe has raised US$30m in a Series B funding round led by WestCap, which will drive a multi-product roadmap, including the expansion of the firm’s AI and machine learning capabilities. In conjunction with the new funding, Siepe has appointed Mark Schultis – who joined the firm as an advisor in October 2023 – as president.

    The Siepe team .......

    Market Moves 22 August 2024

  • CRE analytics tie-up agreed

    Market updates and sector developments

    SitusAMC has entered into a strategic partnership with CMBS.com, the owner of Backshop, a commercial real estate loan origination, management and servicing software platform. As part of the partnership, SitusAMC will transition ownership of CLOSER - its CRE origination system – to CMBS.com, provide growth capital and obtain a minority ownership position in CMBS.com. Additionally, SitusAMC will onboard the .......

    Market Moves 20 August 2024

  • Rock-solid July for primary ABS market

    Low volatility and strong investor appetite lure new issuers

    The primary ABS market remained robust in July despite the typical summer slowdown, with strong issuance and investor demand across various sectors, according to monthly European and UK factsheets monitored by SCI.

    Amundi’s portfolio managers observed significant activity in July, particularly among new ABS issuers capitalising on the relatively low market volatility and high investor appetite. “These transactions .......

    News 20 August 2024
×