ABS
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DataBank raises US$1.1bn in landmark hyperscale securitisation
Second green financing from industry giant marks the first dual-rated data centre ABS
DataBank has priced its fifth and largest securitisation, raising US$1.1bn via a newly established master trust that introduces hyperscale facilities into the data centre ABS market for the first time.
The transaction brings the company’s total securitised portfolio to US$3.23bn since its inaugural 2021 deal, and follows a US$456m green bond issued in February 2024. The .......
News Analysis 25 September 2025
Job swaps weekly: Fasanara hires CLO-focused md and portfolio manager
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees a former Goldman Sachs director joining Fasanara Capital as md and portfolio manager. Elsewhere, Hayfin Capital Management has hired a New-York-based md and head of capital markets, while European DataWarehouse’s UK subsidiary has named a successor to executive director Markus Schaber, who is transitioning into a role as senior advisor.
Market Moves 19 September 2025
Domino's US$1.32bn refi signals next phase of wholebiz ABS growth
Pizza chain streamlines cashflows, adds production assets an...
Domino’s Pizza closed a US$1.32bn refinancing earlier this month, modernising one of the oldest whole business securitisations to date and signalling continued momentum in the sector, supported by ongoing investor appetite and healthy macro trends.
“Eighteen years after its debut, Domino’s securitisation framework was due for an update,” says Patricia Lynch, finance partner at Ropes .......
News Analysis 18 September 2025
Job swaps weekly: Ymer SC accelerates North American expansion with key hire
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Ymer SC furthering its North American expansion plans with the hiring of a senior adviser. Elsewhere, Apollo has hired a New-York-based partner and co-head of capital markets and syndication, while Mayer Brown has bolstered its offering by hiring a new six-person energy project finance team.
Swedish alternative credit manager Ymer .......
Market Moves 12 September 2025
SCI in Focus: ABF's data dilemma - Part 2
The second instalment of a two-part series on the ABF data l...
Complexities of Excel and the errors and the frustrations associated with it are real, and make up so much of the day-to-day for ABF market practitioners. Technology providers are stepping in to try to bridge the gap, but the question remains: are they stepping up?
Replicating processes most already have automated in .......
News Analysis 8 September 2025
SCI in Focus: ABF's data dilemma – Part 1
The first instalment of a two-part series on the ABF data la...
The ABF conversation – and market – is booming. But for all the fundraising headlines and building momentum, the sector is still running on Excel spreadsheets – ultimately leaving it ill-prepared to scale as anticipated. Data is both the bedrock of the market and its biggest burden – and, as more participants warn about the challenge, a .......
News Analysis 5 September 2025
Job swaps weekly: Rithm to acquire Crestline
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Rithm Capital agreeing to acquire Crestline Management. Elsewhere, Beach Point Capital Management has appointed a former co-managing partner and head of credit at TPG Angelo Gordon as president and chief investment officer, while Nuveen Private Capital has announced a strategic partnership with Hunter Point Capital and Temasek.
Rithm Capital is .......
Market Moves 5 September 2025
Prime time for European private credit
Transparency concerns mount as Europe's ABF market tipped to overtake the US
Europe’s ABF market is on the cusp of an important turning point, as deglobalisation and technological advances create both opportunity and competition for market participants. Against this backdrop, transparency remains the defining challenge for a private market that is dominated by bespoke structuring and overlapping exposures.
Moody’s latest Private Credit Insights report News Analysis 4 September 2025
Recreational finance: why Octane is betting big on forward-flow
Octane doubles down on ABF as institutional appetite for pow...
When Octane announced its US$300m forward flow deal with Moore Capital Management’s specialty credit platform last month, it marked the firm’s third such transaction in 2025 and fourth to date, highlighting how central forward flow has become in its growth strategy.
“Forward-flow gives us liquidity and flexibility,” explains Nicholas Makarov, Octane’s head of capital markets.
News Analysis 2 September 2025
Job swaps weekly: PGGM appoints credit risk sharing leader
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees PGGM announce a new head of credit risk sharing following the departure of Mascha Canio last month. Elsewhere, Proskauer has appointed a New-York-based partner in its US structured credit practice, while S&P Global has hired a London-based md focusing on structured finance.
PGGM has promoted Barend van Drooge to head .......
Market Moves 29 August 2025
Thermondo debuts private securitisation for solar, heat pump refi
Inaugural deal could encourage broader adoption of renewable energy ABS in Europe
Berlin-based Thermondo has completed its first securitisation of solar and heat pump receivables in a private transaction that the team at Hogan Lovells, advising on the deal, say introduces structural innovations that could encourage broader adoption of renewable energy-backed securities in Europe.
“This is really the opening of a new asset class in Europe,” says News 28 August 2025
SCI in Focus: Supreme Court ruling lifts cloud over UK auto ABS
Issuance primed for rebound as credit risk seen to be limited
The UK Supreme Court’s ruling on motor finance commission arrangements has eased a major overhang for the UK’s auto ABS market. With the direct impact on credit risk expected to be limited, the move paves the way for a potentially significant boost to new issuance.
“The [UK auto ABS] market has been dead .......
News Analysis 27 August 2025
Hilton Grand Vacations debuts Japanese timeshare ABS
Deal reflects growing interest in esoteric assets
Hilton Grand Vacations (HGV) last month completed the first publicly rated Japanese timeshare securitisation, the ¥9.52bn Hilton Grand Vacations Japan Trust 2025-1. The sponsor navigated not only foreign exchange considerations, but also local court interpretations and investor education, tapping into a growing appetite for esoteric asset classes in the country.
MUFG served as structuring lead manager and bookrunner .......
News 27 August 2025
European ABS demand continues through quieter July
Fund managers eye attractive carry and credit discipline in an uncertain macro environment
The European securitisation market remained supported despite a slowdown in new issuance towards the end of the July, with monthly fund factsheets monitored by SCI highlighting tightening spreads and strong fundamentals. Demand for high-quality transactions in the RMBS, auto ABS and consumer ABS sectors continued to underpin performance, though asset managers noted that valuations currently leave limited room for further .......
News Analysis 26 August 2025
Job swaps weekly: Fifth Third expands ABF group
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Fifth Third expand its asset-backed finance group. Elsewhere, Niam Credit has appointed a new cio in Stockholm, while BAWAG Group has hired a former Alantra executive as European head of partnerships.
Fifth Third has expanded its asset-backed finance group within the commercial bank, adding new capabilities to underwrite and distribute .......
Market Moves 22 August 2025
Värde Partners eyes fund finance as next growth engine in ABF
Värde ceo Brad Bauer highlights partnerships, value...
Värde Partners is making a strategic push into fund finance, positioning subscription lines for private equity and credit funds as a foundation for the firm’s next phase of growth in asset-backed finance. This move builds on the firm’s broader ABF strategy, which it identifies as an already significant and expanding segment of the private credit market.
“There are .......
News Analysis 20 August 2025
Back-leverage deals drive UK CRE recovery as continental Europe stalls
Debt funds lean on bank back-leverage to scale, preparing to...
The recovery in Europe’s commercial real estate (CRE) lending market is proving patchy, with the UK pulling ahead while much of continental Europe remains subdued. Against this backdrop, a growing number of debt funds are leaning on bank-provided back leverage to scale their operations, a trend reshaping the competitive and collaborative dynamics between alternative lenders and traditional banks.
News Analysis 15 August 2025
Job swaps weekly: Castlelake launches Merit AirFinance
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Castlelake naming the leadership team for its new aviation lending business. Elsewhere, Railpen has awarded a securitised credit mandate to Neuberger Berman, while Wells Fargo has named a new head of CMBS large loans.
Castlelake has launched Merit AirFinance, an aviation lending business that will provide debt capital to airlines and .......
Market Moves 15 August 2025
Internationalisation of music ABS gains momentum
First securitisation with European sponsor closed
London-headquartered Recognition Music (formerly Hipgnosis Song Management) last week closed via Barclays the first rated music royalty ABS originated by a European sponsor. The US$372m Lyra MUSIC Assets (Delaware) series 2025-1 marks a significant step forward in the internationalisation of the asset class and growing European engagement in music IP securitisation.
The transaction is backed by a catalogue of .......
News 15 August 2025
Vehis Finanse completes Poland's first warehouse-to-public securitisation
Leasing firm raises PLN1.35bn in landmark deal that could open doors for other mid-sized companies
Vehis Finanse last month completed Poland's first-ever warehouse-to-public securitisation, raising PLN1.35bn and transforming an existing auto lease portfolio into a public structure. The transaction, advised by DLA Piper and backed by EIB/EIF and Banco Santander, was executed through an Irish SPV dubbed Vehis Auto Leasing 2025.
"This is a quite unique deal, not only in Poland but also .......
News 14 August 2025