Capital Relief Trades
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Chorus scoops Magnetar SRT pro as deputy CIO
Fund scouts senior talent as it seeks to 'cement' market leadership
Chorus Capital has appointed Aidan McKeown as deputy cio, further strengthening its investment team as the specialist SRT manager continues to expand its platform. The move comes as the firm preps its latest SRT fund.
McKeown joins the London-based firm after a decade at Magnetar, where he served as portfolio manager for the firm's risk-sharing transaction strategy, .......
News 9 June 2026
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Global ABS update: Positive issuance outlook
European securitisation market expected to remain active as banks proliferate new products
European securitisation issuance is expected to grow in the coming year, according to panellists at Global ABS, taking place in Barcelona from 9-11 June.
Positive sentiment on the likelihood of growth was agreed upon, although panellists noted that Europe will not have a level playing field of competition.
Growth was tied to thoughts that banks have seen .......
News 9 June 2026
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Latest SRTx fixings released
SRT market settles as volatility eases, despite lingering caution
The latest SRTx fixings for May 2026 suggest that markets remain stable, with volatility and credit risk concerns easing across all segments. While investors remain cautious about the overall economic outlook, the latest readings indicate that market participants are not discouraged by prevailing conditions after a period of heightened uncertainty earlier in the year.
Spread performance diverged between .......
News 8 June 2026
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Bulgarian bank seals second EIB-backed SRT
SRT market update
Allianz Bank Bulgaria has completed its second synthetic securitisation with EIB Group, freeing up capacity to support approximately €340m of new lending to Bulgarian SMEs and mid-caps over the next three years.
The transaction references a €252m portfolio of SME and consumer loans and is designed to optimise the bank’s capital position while expanding financing to the real .......
SRT Market Update 5 June 2026
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Job swaps weekly: Avellinia appoints chief credit officer, while Davidson Kempner launches European CLO arm
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Davidson Kempner become the latest firm to launch a European CLO arm. Meanwhile, Avellinia has appointed a chief credit officer, and Sidley has elected 52 lawyers to its partnership.
Katten Muchin Rosenman UK has recruited two partners in London from Crowell & Moring to launch a structured products and derivatives .......
Market Moves 5 June 2026
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Insurers offload data centre risks with niche ILS structures
Insurance-linked securities come to the forefront, with US$30bn in digital infra issuance
A once niche part of the securitisation market is taking centre stage in the data centre race as insurance companies look to offload risk. Novel insurance-linked securities (ILS) structures, which transfer cyber and operational risks from digital infrastructure into the capital markets, are becoming the latest channel for capital-intensive assets to find indemnity.
“ILS are not uniquely suited to data .......
News Analysis 5 June 2026
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IACPM survey underlines 'orderly' SRT expansion
Non-GSIB issuers, specialised lending driving growth
Banks issued €30bn of first loss and mezzanine SRT tranches referencing €378bn of loans in 2025, representing a respective increase of 21% and 35% year-on-year, according to the IACPM’s latest SRT Bank Survey. At the same time, the survey – which covers over 800 transactions issued by 62 global banks between 2016-2025 – shows that due to amortisation and .......
News Analysis 4 June 2026
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Top 10 US bank in CLN market
Truist Financial back in SRT
Truist Financial is in the market with its second risk transfer deal CLN, following its debut in the market last September, according to well-placed market sources.
This second foray into the space is also an auto loan securitisation, this .......
SRT Market Update 3 June 2026
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NA Bank surfaces with $625m CLN
Top ten US bank with IG corporates deal
Now established risk transfer issuer US Bank is in the market with a US$625m CLN, representing a 12.5% first loss position of a US$5bn portfolio of investment grade syndicated and revolving term corporate loans, say reports.
The trade, designated US .......
SRT Market Update 2 June 2026
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Asset manager sells on risk transfer
Bayview said in the market
Bayview is in the market with a repackaging of a synthetic securitisation of a US$4.2bn portfolio of investment grade (IG) corporate loans acquired by SMBC, say well placed market sources.
Price talk is in the plus 400bp range, add sources.
SRT Market Update 2 June 2026
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Investor selectivity grows, CEE issuance matures and MDB-led SRT emerges as a new frontier
Monthly roundup of SRT market activity
The SRT market entered May with little sign of slowing, even as broader credit markets continued to navigate volatility, widening spreads and renewed macro uncertainty. Investors remain active and capital abundant, although underwriting scrutiny is increasing, pricing discipline is returning and market participants are reassessing risk more selectively after several years of issuer-friendly conditions.
SRT pipelines across Europe .......
News Analysis 29 May 2026
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SCI In Focus: Building an investable asset class referencing MDB exposures
IFC plans repeat SRT issuance as originate-to-distribute model gains traction
IFC’s landmark trade finance synthetic securitisation turned heads across the market earlier this month, as it represented more than just a one-off balance sheet transaction. The multilateral lender is now using SRTs as a repeatable funding and capital mobilisation tool, with the prospect that MDB-originated credit risk could evolve into a distinct segment of the wider SRT market.
News Analysis 29 May 2026
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Job swaps weekly: Seward & Kissel names new head of structured credit
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Seward & Kissel appointing a New-York-based partner and head of structured credit. Elsewhere, a C-suite Arini executive has left the business after three years, while Hoplon Capital subsidiary Vistina has appointed a senior md and head of ratings advisory.
Seward & Kissel has appointed Taha Khan as partner and head .......
Market Moves 29 May 2026
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Industry waits for eligible guarantor clarity
Much-lauded B3E provides no relief
The re-proposed Basel III Endgame (B3E) has been met with largely universal acclaim from US banks, but one aspect germane to the SRT market remains unaddressed and unsolved: the status of eligible guarantors.
Unfunded protection provided by insurance firms is .......
SRT Market Update 22 May 2026
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GSIBs in the market with fund finance exposure
JPM and GS looking to offload risk with SRTs
SRT Market Update 22 May 2026
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Job swaps weekly: Desjardins hires securitisation head, Gemcorp and ICG also hire structuring leads
People moves and key promotions in structured credit
This week’s roundup of structured credit job swaps sees alternative credit specialist Desjardins hire a md and head of securitisation, based in Ontario, Canada and Gemcorp Capital appointing a head of structured credit. Elsewhere, ICG appoints a head of US CLO structuring and capital markets, while BC Partners, Crescent Capital and Sona Asset Management all strengthen their structured finance teams with senior hires.
Richard KC .......
Market Moves 22 May 2026
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"Issuers are listening": Man Group sees investor leverage returning to SRT
Age of plenty for issuers may be ending
As synthetic securitisation spreads have continued to widen since Q4 2025, experienced protection sellers may be due to regain some leverage and put pressure on issuers to be more discerning, according to one seasoned market participant.
News Analysis 21 May 2026
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UK SME guarantee programme debuts SRT-style structure
'Repeatable template' to reduce execution uncertainty
News 19 May 2026
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IFC teams up with six institutions on historic trade finance SRT
First MDB trade to utilise three-tiered capital structure
SRT Market Update 13 May 2026