ABS
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Job swaps weekly: Bayview names co-heads for new fund finance investment business
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Bayview Asset Managementappointing two co-heads to lead its newly created fund finance investment business. Elsewhere, RiskSpan has appointed two to its advisory board as it ramps up its structured finance and private credit activity, while Mayer Brown has hired two former Kirkland & Ellis partners in its US structured finance .......
Market Moves 11 April 2025
Litigation finance venture debuts amid surging claims market
New JV targets overlooked SME and consumer litigation market...
Litigation finance is entering a new phase of maturity, with funding shifting from opportunistic, one-off cases towards platform-based, scalable models. Capitalising on this shift, MDPG Advisory founder Matthew Gwynne and S&C Capital founder Edwin Harrap have launched Litigation Capital Solutions (LCS), a new joint venture aiming to open the doors of legal finance to underserved segments, .......
News 11 April 2025
Janus Henderson and Guardian form partnership for public fixed income portfolio
Deal sees asset manager overseeing US$45bn portfolio with insurer investing US$400m of seed capital
Janus Henderson Group and the Guardian Life Insurance Company of America have formed a strategic partnership, in which Janus Henderson will become the insurance company’s investment grade public fixed income asset manager. The transaction is expected to close at the end of the second quarter of 2025 and will .......
News 9 April 2025
ABF key pillar in AXA IM Alts' new evergreen private credit strategy
Christophe Fritsch, global head of alternative credit at AXA IM Alts, answers SCI's questions
Global alternative investment firm AXA IM Alts has made ABF a cornerstone of its newly launched diversified evergreen private credit strategy. Designed for the private wealth segment, the strategy will invest across the credit spectrum, from ABF to direct lending, aiming to generate long-term recurring income.
Christophe Fritsch, global head of alternative credit at AXA IM .......
The Structured Credit Interview 9 April 2025
Esoterics gather steam in APAC securitisation market
Demand for new asset classes could bring rapid expansion of securitisation in region
Traditional asset-backed securities in the Asia Pacific (APAC) region could become overshadowed by emerging asset classes and new players, as the demand for esoteric investments increases.
The securitisation market in the Asia Pacific (APAC) region is well stablished, particularly in countries such as China, Australia, South Korea, and Japan, where annual issuance reaches billions of dollars. With China .......
News Analysis 7 April 2025
Job swaps weekly: KBRA head of CMBS surveillance and research retires
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees KBRA naming a successor to outgoing head of CMBS surveillance and research Roy Chun, who is to retire. Elsewhere, Jefferies has named a new fixed income chief risk officer, while and MDPG Advisory director and an S&C Capital founder have formed a new London-based litigation finance and advisory .......
Market Moves 4 April 2025
ESG securitisation issuance rebounds amid broader market recovery
Soaring 2024 volumes in ESG ABS follow two sluggish years
Europe's ESG securitisation market is showing signs of revival, bouncing back in 2024 after two challenging years for the wider fixed income universe. Total ESG-labelled securitisation issuance reached €5.5bn, up 177% from 2023, according to AFME data. However, while the figures reflect some growing momentum, they remain modest compared to other corners .......
News Analysis 3 April 2025
SCI in Focus: Securitisation and private credit in lockstep for Europe's data centre future
Experts weigh in on public versus private deals, geopolitica...
As Europe's data centre market continues to evolve, industry insiders say the continent will likely emerge as a diversification play alongside the US, with multiple European countries on the radar. Private credit and securitisation are both likely to play increasingly important roles in the build-out of the market.
According to Darrell Purcell, director EMEA structured .......
News Analysis 2 April 2025
Standardisation key to ABF evolution
Technology driving the 'best outcome' for borrowers
The ability to be nimble is proving to be a competitive edge in the burgeoning ABF market. Participants in a recent SCI webinar on private credit highlighted the important role data and technology are playing in the evolution of this sector.
“Our goal is to double or triple our AUM, without the headcount growing commensurately,” said News 2 April 2025
Job swaps weekly: Morgan Lewis snaps up former SEC lawyer
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Morgan Lewis hiring a structured finance specialist and former SEC special counsel as partner. Elsewhere, Marathon Asset Management has promoted a long-standing senior portfolio manager to partner, while Close Brothers Property Finance has added two senior professionals to its new structured finance team in London.
Morgan Lewis has hired the .......
Market Moves 28 March 2025
SRT disclosures reviewed (UPDATED)
Pillar 3 survey underlines Santander's dominance
News 28 March 2025
Lincoln Financial preps pair of private-market funds
Insurer aims to offer retail investors exposure to private credit, ABF and IP royalties by late 2025
Lincoln Financial is preparing to launch two new evergreen funds in partnership with Bain Capital and Partners Group by late 2025. The funds will offer retail investors access to high-barrier sectors, including asset-backed finance (ABF) and royalty-based investments, traditionally limited to institutional investors. By tapping into its network of 60,000 financial advisers, the life insurer aims to offer individual .......
News 28 March 2025
SCI in Focus: Data centre securitisation - ESG risk or green opportunity?
Growing appetite for deals brings environmental commitments...
As data centre securitisation gains traction, some of the most prominent voices in the ESG movement are now at the forefront of this growing market. While the industry’s energy intensity may seem at odds with sustainability principles, ESG remains a fundamental consideration in the structured finance business – though now less prominent as a marketing tool.
News Analysis 28 March 2025
Firstmac's 'Eagle' spreads wings in commercial SMSF market
A$1bn transaction sees mortgage lender turn to international investors in expansion of programme
Firstmac priced its largest RMBS deal to date earlier this month, in a deal that saw the mortgage lender expanding its investor base overseas. The A$1bn Australian prime RMBS transaction – Firstmac Mortgage Funding Trust No 4 Series Eagle No 5 – was backed by self-managed super fund (SMSF) loans and upsized from A$500m due to strong .......
News 27 March 2025
Insurer appetite for SRTs on the rise
IACPM survey shows substantial growth of unfunded protection
Insurer provision of unfunded protection on tranches of SRT transactions has increased significantly year-on-year. The number of protections sold rose to 82 new subscriptions in 2024, versus 45 the previous year, according to the IACPM’s latest Global SRT Insurance Survey.
Respondents insured €2.8bn of European SRT transactions last year, compared to €1.2bn in 2023. The average insured amount .......
News 27 March 2025
SCI In Conversation Podcast: Jason Smilovitz and Midroog's Moty Citrin (part 2)
We discuss the hottest topics in securitisation today...
In the second part of this episode of the SCI In Conversation podcast, SCI’s Selvaggia Cataldi continues her discussion about Israel’s securitisation market with Moty Citrin, head of financial institutions and structured finance at Moody’s subsidiary Midroog, and independent senior securitisation consultant Jason Smilovitz.
Citrin and Smilovitz discuss the impact of the country's recent legislative changes, investor sentiment, market liquidity, .......
News Analysis 27 March 2025
Finance Ireland's second auto ABS signals growing EV momentum
Latest deal strengthens issuer's ABS framework, boosts investor demand, and drives EV exposure
Finance Ireland has recently priced its second auto ABS transaction, marking another milestone in its securitisation program. Following its debut deal in October 2023, the latest issuance reflects refinements based on investor feedback and past performance, further solidifying the issuer's presence in the European ABS market.
The structuring of the new deal closely mirrors Finance Ireland’s previous auto .......
News Analysis 25 March 2025
Marketplace lending entering 'cautious phase'
Castlelake and PGIM warn of cracks in MPL sector as fintech models face recalibration
Marketplace lenders are entering a more cautious phase in 2025 as the rapid evolution of their business models and loosening credit standards appear to be dampening investor confidence. While private credit firms continue capitalising on falling senior financing costs and sustained demand for non-bank lending, concerns are mounting around potential impacts on the MPL segment.
"As marketplace lending .......
News 24 March 2025
Job swaps weekly: Gandy returns to the SRT fold
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees SRT veteran Steve Gandy return to the industry as a board member at an SRT-focused fintech business. Elsewhere, Simpson Thacher & Bartlett has appointed a New-York-based securitisation-focused partner, while Trafigura Group has named a new global head of structured finance.
Iconicchain, a Finnish fintech specialising in SRT services for issuers, .......
Market Moves 21 March 2025
SCI In Conversation Podcast: Moty Citrin, Midroog, and Jason Smilovitz, independent consultant
We discuss the hottest topics in securitisation today...
In this episode of the SCI In Conversation podcast, SCI’s Selvaggia Cataldi speaks to Moty Citrin, head of financial institutions and structured finance at Moody’s subsidiary Midroog, and independent senior securitisation consultant Jason Smilovitz about the evolution of Israel’s securitisation market. In light of a new law aligning the country with global standards, Citrin and Smilovitz discuss how the legislative .......
News Analysis 21 March 2025