Market Moves

  • Solera MBO boosts auto finance platform

    Market updates and sector developments

    Obra Capital has partnered with the Solera Auto Finance (SAF) team in a management buyout from Solera Corp. SAF will be rebranded as Arra Finance and by combining the company’s skills with Obra’s existing structuring and credit expertise, the aim is to jointly work with securitisation market participants and forward flow purchasers to create highly rated assets.

    SAF .......

    Market Moves 13 August 2024

  • JHG bolsters private credit capabilities

    Market updates and sector developments

    Janus Henderson Group has entered into a definitive agreement to acquire a majority stake in Victory Park Capital Advisors (VPC). With a nearly two decade-long track record of providing customised private credit solutions to both established and emerging businesses, VPC complements Janus Henderson’s securitised credit franchise and expertise in public ABS markets.

    Founded in 2007 by Richard Levy .......

    Market Moves 12 August 2024

  • August RMBS surge surprises experts

    Unseasonably high activity defies market volatility and summer slowdown

    In an unexpected twist, the typically quiet international primary market in August has burst into activity, with two UK RMBS and two Australian RMBS deals making notable strides. According to a recent JP Morgan report, this surprising surge of activity has unfolded despite the prevailing market volatility and the customary summer slowdown.

    JP Morgan's research strategists point out .......

    Market Moves 12 August 2024

  • Job swaps weekly: Blackstone names new head of international at BXCI

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Blackstone appointing a new head of international for Blackstone Credit & Insurance (BXCI). Elsewhere, Paul Hastings has lured a structured finance partner from Weil, Gotshal & Manges, while Milbank has added a number of Latham & Watkins professionals to its alternative investments team, including a new partner.

    Blackstone has named .......

    Market Moves 9 August 2024

  • Job swaps weekly: DWS boosts alts franchise

    People moves and key promotions in securitisation

    Market Moves 2 August 2024

  • BNPP set to acquire AXA IM

    Market updates and sector developments

    AXA has entered into exclusive negotiations to sell its asset manager AXA Investment Managers (AXA IM) to BNP Paribas for cash proceeds of €5.1bn. Under the terms of the proposed transaction, AXA and BNP Paribas would also enter into a long-term strategic partnership, under which BNP Paribas would provide investment management services to AXA.

    Additionally, AXA would receive .......

    Market Moves 1 August 2024

  • Hayfin inks MBO

    Market updates and sector developments

    Hayfin Capital Management has entered into an agreement with private investment firm Arctos Partners to support a management buyout of the business, acquiring British Columbia Investment Management Corporation’s (BCI) majority stake. The new partnership delivers Hayfin’s long-term objectives of greater team ownership, alignment and incentivisation, as well as generating superior and consistent risk-adjusted returns for both Hayfin’s and Arctos’ .......

    Market Moves 30 July 2024

  • WAM understatement hits FFELP SLABS

    Market updates and sector developments

    Moody's has placed 12 tranches from nine FFELP student loan securitisations administered by Nelnet and 61 tranches from 11 FFELP ABS serviced by Nelnet on review for downgrade. The rating actions follow Nelnet's disclosure of a collateral data reporting approach that appears to have understated the remaining term of loans in Income-based Repayment Plans (IBR).

    Nelnet last week .......

    Market Moves 29 July 2024

  • Job swaps weekly: Reed Smith snaffles top hire

    People moves and key promotions in securitisation

    Market Moves 26 July 2024

  • Job swaps weekly: Proskauer lures A&O Shearman co-head of global banking

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Proskauer Rose snapping up two A&O Shearman partners for its global finance practice. Elsewhere, Womble Bond Dickinson has added a Latin America-focused partner to advise on capital markets and structured finance, while Anchor Health Properties has lured a structured finance-focused senior vice president.

    Philip Bowden has left his role as .......

    Market Moves 19 July 2024

  • CAS five

    Market updates and sector developments

    Fannie Mae has priced its fifth CAS deal of the year – a US$659m REMIC designated CAS 2024-R05. The transaction is underwritten by Wells Fargo and Morgan Stanley.

    It consists of two US$283.86m M1 tranches (2A-M1 and 2M-1) rated Aa3/A .......

    Market Moves 18 July 2024

  • Job swaps weekly: Newmark snaps up industry veteran

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Newmark hiring an experienced executive as md on its UK and EMEA debt and structured finance team. Elsewhere, i80 Group has hired a former Wells Fargo ABF and securitisation director, while law firm Cappelli RCCD has promoted a securitisation and structured finance specialist to partner.

    Debt advisory veteran Steve Williamson .......

    Market Moves 12 July 2024

  • Job swaps weekly: Medalist names Buccola as head of structured credit

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Medalist Partners appointing a former Cantor Fitzgerald senior executive as partner and head of structured credit. Elsewhere, the EIF has named a new head of securitisation, while Davis Polk has promoted six – including two securitisation specialists – to partner.

    Medalist Partners has appointed James Buccola as partner and head .......

    Market Moves 5 July 2024

  • CIRT five for 2024

    Market updates and sector developments

    Fannie Mae (today) executed its fifth CIRT deal of the year, designated CIRT 2024 L-3, transferring US$337.2m of mortgage risk to 27 insurers and re-insurers.

    The GSE retains risk for the first 170bp .......

    Market Moves 1 July 2024

  • Job swaps weekly: Crescent promotes three to senior leadership team

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Crescent Capital Group bolstering its senior management team with a number of promotions. Elsewhere, S&P Global Ratings has named a successor to president Martina L Cheung, who is to be promoted to president and ceo of S&P Global, while Man Group has hired a credit-risk-sharing-focused head of structuring.

    Crescent Capital .......

    Market Moves 28 June 2024

  • FHFA approves second mortgage pilot

    Market updates and sector developments

    The FHFA has provided conditional approval for Freddie Mac to engage in a limited pilot to purchase certain single-family closed-end second mortgages (SCI 14 May). The aim of the pilot is to explore whether such a product effectively advances Freddie Mac’s statutory purposes and benefits borrowers, particularly in rural and underserved communities.

    The conditional approval of the pilot .......

    Market Moves 24 June 2024

  • Job swaps weekly: Fitch appoints successor to outgoing Murray

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Fitch Ratings appointing a successor to outgoing BRM head for structured finance Douglas Murray. Elsewhere, Barings has hired a BlackRock director to lead European real estate debt portfolio management, while King & Spalding has rehired two structured finance partners who left the firm for Milbank last year.

    Fitch Ratings has promoted .......

    Market Moves 21 June 2024

  • Private credit JV formed

    Market updates and sector developments

    Stifel Financial Corp and Lord Abbett have formed a substantial leveraged lending joint venture, which compliments the existing capabilities of both firms. Called SBLA Private Credit, the JV will focus on both new issue and existing loans to small and mid-sized portfolio companies of financial sponsors.

    SBLA Private Credit brings together two of the industry’s most established brands, .......

    Market Moves 17 June 2024

  • Norway gets SecReg green light

    Market updates and sector developments

    The EU Securitisation Regulation was incorporated into the EEA Agreement on 12 June and it is widely expected that the rules will come into force in Norway on 1 January 2025. The regulation covers both true sale and synthetic securitisations, as well as rules on STS securitisations. 

    Legislative rules implementing the Securitisation Regulation in Norwegian law have already .......

    Market Moves 14 June 2024

  • Job swaps weekly: Guy Carpenter lures Schnieders to lead new division

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Guy Carpenter launching a new capital and advisory group with the hiring of an industry veteran from Teneo Holdings. Elsewhere, Dentons has rehired a structured finance specialist from NuBridge Commercial Lending as partner, while McCarthy Denning has appointed a real-estate-focused structured finance specialist as partner.

    Guy Carpenter has hired Alexander .......

    Market Moves 14 June 2024

  • Private credit marketplace launched

    Market updates and sector developments

    Figure Technology Solutions has launched a first-of-its-kind blockchain-based multi-seller, multi-buyer marketplace for private credit loans. Called Figure Connect, the marketplace connects Figure’s capital markets buyer universe directly to Figure’s loan origination partners, with the aim of engendering liquidity by adding certainty of funding to loan originators and collateral composition to loan buyers.

    With Figure Connect, originators can receive .......

    Market Moves 12 June 2024
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