Market Moves

  • Market moves - 31 August

    The latest hires and company developments in the structured finance market

    Acquisition

    Moody’s Corp is set to acquire all outstanding shares of Reis in an all-cash transaction valued at approximately US$278m. By combining Reis’s extensive data with Moody’s Analytics’ specialised capabilities, the firm aims to enhance analytical practices in the CRE market and contribute to the efficiency and liquidity of capital flows. Under the terms of the merger agreement, .......

    Market Moves 31 August 2018

  • Market moves - 24 August

    The week's structured finance hires and company developments, all in one place.

    Consent solicitation

    NN Bank has issued a consent solicitation seeking investor approval for the early redemption of the Hypenn 3 Dutch RMBS, of which the class A1 tranche has already been redeemed. The class A2 tranche has an outstanding balance of €467m and a FORD of 17 June 2020, according to Rabobank credit analysts. Together with Hypenn 3, NN Bank’s Arena 2014-2 .......

    Market Moves 24 August 2018

  • Market moves - 17 August

    Company developments and new hires in the structured finance sector

    Acquisitions

    Vistra has completed the acquisition of the corporate services business of Deutsche Bank’s global transaction banking division. The corporate services business will now be rebranded under the Vistra umbrella. The acquisition broadens the company’s presence in seven of the existing locations across Europe, the Cayman Islands and Mauritius, providing further scale and expertise in these jurisdictions and involves management .......

    Market Moves 17 August 2018

  • Market moves - 27 July

    Company developments and new hires in the structured finance sector.

    Acquisitions

    American Mortgage Consultants (AMC), has announced the acquisition of certain personnel and the operations center of Des Moines, Iowa-based The Barrent Group. This transaction will establish a market presence for AMC in the Midwest and adds more than 50 residential mortgage professionals to its platform, further enhancing the firm’s client service capabilities. AMC plans to hire up to 150 .......

    Market Moves 27 July 2018

  • Market moves - 20 July

    A weekly breakdown of new hires and company developments in the global structured finance industry.

    Acquisition agreed

    Stone Point Capital’s Trident VII fund is set to acquire Sabal Capital Partners, with Sabal Investment Advisors, Sabal Investment Holdings and their managed funds also merged into the Sabal platform to create a vertically integrated lending, servicing and investment management platform focused on the small balance commercial real estate sector. Sabal will continue to be operated by its .......

    Market Moves 20 July 2018

  • Market moves - 13 July

    A weekly breakdown of recent hires and company developments in the structured finance industry.

    Acquisitions and investments

    Alantra has acquired KPMG UK’s portfolio solutions group business, which specialises in advising financial institutions in relation to non-performing and non-core banking assets globally. The team – which comprises around 70 professionals – will be renamed Alantra Corporate Portfolio Advisory and will be led by managing partners Joel Grau, Andrew Jenke and Nick Colman. Closing of the .......

    Market Moves 13 July 2018

  • Market moves - 6 July

    Australian expansion

    Intertrust has expanded into Australia through the acquisition of Seed Outsourcing – an Australian corporate and fund services firm, providing corporate secretarial, director, domiciliation and payroll services to private equity and real estate fund managers.

    CMBS platform launched

    Principal Real Estate Investors and MUFG Union Bank have formed MUFG Principal Commercial Capital, a lending platform focused on originating .......

    Market Moves 6 July 2018

  • Market moves - 29 June

    CLO manager acquired

    THL Credit Advisors has acquired the collateral management business of Kramer Van Kirk Credit Strategies, which currently manages seven CLOs totaling approximately US$3.4bn of assets. THL Credit currently manages 15 CLOs, including the recently priced THL Credit Wind River 2018-1. The acquisition would bring THL Credit's CLO assets under management to approximately US$12bn and the firm's total .......

    Market Moves 29 June 2018

  • Market moves - 22 June

    Europe

    Axa Investment Managers has hired Hans Stoter to global head of fixed income and interim head of multi asset client solutions. He was previously cio at NN Investment Partners.

    DBRS has hired Edward Dittmer to its CMBS team as svp and will be based in New York. He was previously svp in the CMBS team at Morningstar.

    BlueBay has .......

    Market Moves 22 June 2018

  • Market moves - 15 June

    CLO name change

    The name of Babson Euro CLO 2014-1 has been changed to Barings Euro CLO 2014-1. The move is effective from 13 June.

    Europe

    MDB Group (MeDirect) has recruited Michael Curtis as cio, responsible for core credit activities and spearheading the bank’s diversification into new product areas. Based in London, he reports to ceo Mark Watson. Curtis was .......

    Market Moves 15 June 2018

  • Market moves - 8 June

    Acquisition

    Angel Oak Commercial Lending (AOCL) has acquired a controlling interest in Cherrywood Mortgage – a national, small-balance commercial mortgage lender based in Los Angeles, California. Cherrywood will serve as the wholesale small-balance commercial lending arm of (AOCL) and is led by ceo Bill Komperda and president Ed Resendez.

    Cat bond first

    SCOR has sponsored a new cat bond, dubbed Atlas .......

    Market Moves 8 June 2018

  • Market moves - 1 June

    BTL RMBS planned
    UK Mortgages and TwentyFour Asset Management have acquired a high-quality pool of approximately £350m buy-to-let non-member mortgages originated by The Coventry Building Society Group through its Godiva brand. The portfolio comprises 2,077 recently-originated loans with an average balance of approximately £169,000 and an average LTV of 60.8%. The loans have approximately five years until the current fixed rate .......

    Market Moves 1 June 2018

  • Market moves - 25 May

    Analytics acquisition

    IHS Markit has signed a definitive agreement to acquire Ipreo for US$1.855bn from private equity funds managed by Blackstone and the Goldman Sachs merchant banking division. The acquisition is expected to close in 2H18, subject to customary closing conditions and regulatory approvals. Following a detailed review of its financial services businesses, the firm has also initiated a process .......

    Market Moves 25 May 2018

  • Market moves - 18 May

    Europe

    CIFC has hired Joshua Hughes as head of European marketing, based out of London and reporting to co-ceo, Oliver Wriedt. Hughes was previously head of global distribution at Muzinich & Co. He will lead the firm’s fundraising efforts in the UK and throughout Europe as the firm establishes its European platform.

    Simon Collingridge and Tony Ward of Home Funding Limited and Jaap .......

    Market Moves 18 May 2018

  • Market moves - 11 May

    Acquisitions

    Blackstone is set to acquire all outstanding common shares of Gramercy Property Trust for US$27.50 per share in an all-cash transaction valued at US$7.6bn. The transaction represents a premium of 23% over the 30-day volume-weighted average share price ending 4 May 2018 and a premium of 15% over the closing stock price on that date. Completion of the acquisition .......

    Market Moves 11 May 2018

  • Market moves - 4 May

    Acquisitions

    Five Oaks Investment Corporation has acquired 100% of the equity interests of Hunt CMT Equity from hunt Mortgage Group for US$68m. Assets of Hunt CMT Equity include the junior retained notes and preferred shares of a commercial real estate CLO, a licensed commercial mortgage lender and eight loan participations. The assets of the CLO consist of performing transitional floating .......

    Market Moves 4 May 2018

  • Market moves - 27 April

    Australia

    FIIG Securities has hired Anne-Marie Hunter-Brown to the role of markets business manager, Australia. She was previously at Deutsche Bank as IB markets coo and business manager across global credit including structured credit.

    Assured Guaranty rebuttal

    Hedge fund manager David Einhorn recently stated that he is betting on Assured Guaranty’s stock falling, and that it .......

    Market Moves 27 April 2018

  • Market moves - 20 April

    Acquisitions

    BlackRock has acquired Tennenbaum Capital Partners (TCP), complementing its global credit business at a time when clients are increasingly turning to private credit as a higher-yielding alternative to traditional fixed income allocations. A key element of the transaction – which is expected to close in Q3 - is the continuity of TCP's senior management team, including all five partners .......

    Market Moves 20 April 2018

  • Market moves - 13 April

    Aircraft ABS on watch
    KBRA has placed the class A, B and C notes of the US$411m Prop 2017-1 ABS on watch for downgrade. The ABS represents the first securitisation from Elix Aviation Capital, with the proceeds being used to buy 63 aircraft on lease to 17 airlines in 12 countries. KBRA notes that one aircraft was not delivered to .......

    Market Moves 13 April 2018

  • Market moves - 6 April

    Europe

    CSC has hired Robert Berry as chairman of its capital markets group in London and Debra Parsall as director, also in London. Berry was most recently global head of capital markets at Intertrust Group. Parsall was most recently a director of capital markets at SFM Europe.

    The Bank of England has hired Antonio Guevara as an ILS specialist. Guevara .......

    Market Moves 6 April 2018

  • Market moves - 29 March

    Europe

    Man Group has hired Simon Finch as cio of credit at Man GLG, its discretionary investment management engine. In this newly created role, Finch will be responsible for Man GLG’s credit business and will have oversight of the credit portfolio management teams. He will report to Teun Johnston, ceo of Man GLG, and work closely with Man GLG’s cio, .......

    Market Moves 29 March 2018
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