The Structured Credit Interview
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CLOs emerge as private credit's resilient outperformer
IQ-EQ highlights diversification, liquidity, and innovation...
CLOs have continued to prove more resilient than other parts of the private credit market, thanks to structural diversification, liquidity, and the active management style of their managers. For Joanne McEnteggart, global head of debt, capital markets and corporate at IQ-EQ, these factors explain why CLOs have consistently delivered lower default levels and stronger performance, particularly since 2018.
The Structured Credit Interview 24 September 2025
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Art Capital's AJ Storton on the future of back leverage
New Art Capital partner shares why he's betting on back leve...
Newly appointed Art Capital partner AJ Storton tells SCI what drew him to the firm, why back leverage is attracting fresh attention from both lenders and borrowers, and how regulatory shifts such as Basel IV are reshaping opportunities across capital markets.
Q: Why did you decide to join Art Capital now? What attracted you to .......
The Structured Credit Interview 15 September 2025
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Arini builds UK CRE book as valuations bottom, refinancing wave swells
ABF specialist sees surge in back-leverage and refinancing d...
Arini is ramping up its focus on UK CRE as valuations near a bottom and refinancing demand surges. With banks retrenching, the alternative lender is stepping in to fill the gaps.
“Most commercial real estate assets have probably lost between 10% and 50% of their value since the 2022 peak,” says Nabil Aquedim, head of .......
The Structured Credit Interview 9 September 2025
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Inside Aperture's new billion-dollar ABF strategy
Aperture's new global head of ABF discusses strategy, market timing, and expansion plans with SCI
Aperture Investors has launched a US$1bn asset-backed finance (ABF) strategy led by their newly hired portfolio manager and global head of ABF, Nick Turgeon. Seed capital comes from Generali Investments and is already attracting strong interest from third-party investors. The strategy targets consumer, commercial, and esoteric credit markets starting in North America .......
The Structured Credit Interview 18 August 2025
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Opening doors at Akin Gump
Sarah Milam speaks to SCI about joining Akin Gump's capital solutions team
Sarah Milam recently joined Akin Gump Strauss Hauer & Feld as a partner in the firm's New York office, focusing on ABF, securitisation and structured finance. She joins from Dechert, where she spent seven years as a partner. Speaking with SCI, Milam discusses her move to Akin, the firm's securitisation strategies and current trends in the ABF market.
The Structured Credit Interview 31 July 2025
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From gaps to growth: ABF's answer to SME lending's so-called valley of death
Avellinia Capital co-founders and managing partners, Julian...
Q: Avellinia Capital (AvCap) and the British Business Bank (BBB) recently announced a new partnership to provide capital solutions for fintech lenders. Can you walk us through how the partnership came about and how it aligns with your broader capital deployment strategy?
Julian Schickel: We closed the first transaction with BBB some time ago and have since upsized .......
The Structured Credit Interview 29 July 2025
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Balbec rapidly deploying Fund VI amid mortgage and consumer debt surge
Asset-based credit firm leans into smaller, operationally co...
Balbec Capital is ramping up activity across all corners of the residential loan market, CRE loans, consumer NPLs and secondary portfolios from struggling lenders, after having deployed over half of its sixth flagship fund. Despite a tough fundraising climate, the firm raised more than expected for Fund VI, as demand for niche, cash-flowing credit strategies continues to grow.
The Structured Credit Interview 18 July 2025
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US insurers love mortgage structured products
Annuity providers lead the charge into resi mortgage assets
The Structured Credit Interview 8 July 2025
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Building Canada's ABF market from within
Nur Khan, md and head of SAF Group's new ABF strategy, answers SCI's questions
Q: You’ve recently joined SAF Group (SAF) to lead its new ABF strategy. Can you tell us more about your role and what the firm hopes to achieve in ABF?
A: SAF has ambitious growth plans, and I’ve joined to help build out our new ABF strategy. SAF has participated in ABF in the past, .......
The Structured Credit Interview 27 June 2025
Oaktree's ABF pipeline 'exploding'
After fielding over 300 deals worth US$20bn since 2023, the...
Oaktree Capital Management is experiencing an exponential increase in asset-backed finance (ABF) deal flow, with more than 300 unique transactions totalling nearly US$20bn crossing its desk since May 2023. The surge - driven by a shifting bank posture, public market dislocation and the firm’s push into unrated ABF opportunities - shows no signs of slowing.
“Our pipeline is .......
The Structured Credit Interview 16 June 2025
Inside TwentyFour AM's new ABF fund
Douglas Charleston, partner and co-head of ABS at TwentyFour...
Q: TwentyFour AM recently launched a new dedicated ABF fund. Why launch the fund now, and what’s different about it for TwentyFour?
A: People love to coin a phrase, but ABF isn’t new – it’s essentially securitisation technology, just the private side of it. The main motivation for us is a natural evolution .......
The Structured Credit Interview 10 June 2025
Crayhill eyes expansion after closing US$1.3bn ABF fund
ABF platform to scale with fresh capital and a growing pipel...
Crayhill Capital Management is seeking to expand its horizons after closing its third ABF fund at US$1.31bn last month, including US$162m in co-invest commitments. The close marks a major milestone amid rising insurer demand for long-duration, yield-generating assets that is driving increased institutional interest across the ABF space.
"Achieving the milestone of raising over US$1bn with repeat investors .......
The Structured Credit Interview 29 May 2025
Setting the scene
Ahead of her panel appearance at FT Live Fixed Income Events...
Q: The Global ABS Conference is just around the corner – which SRT topics or panels are you most looking forward to?
A: We are always interested in asset classes experiencing significant growth, such as digital infrastructure and fund finance. We are also very focused on the geopolitical environment and the effects of tariffs and/or a .......
The Structured Credit Interview 28 May 2025
Bayview's fund finance arm taps into growing institutional demand
New platform aims to capitalise on the synergies between ABF and insurance mandates
Bayview Asset Management recently launched a fund finance investment platform, marking a significant step in its strategy to expand its asset-backed finance (ABF) offerings and meet the growing liquidity needs of GPs, LPs and institutional investors. The move was accompanied by the hiring of seasoned fund finance professionals Michael Timms and Colin Doherty, who will co-lead .......
The Structured Credit Interview 7 May 2025
Pearl Diver Capital opens Dubai office to tap regional CLO demand
Matt Layton, partner and head of EMEA at Pearl Diver Capital...
Q: Where did the decision to open an office in Dubai come from?
Matt: Opening an office in the The Gulf Cooperation Council (GCC) region is a natural progression for our firm. Since Pearl Diver Capital was established in 2008, we have built a successful franchise across Europe, the US and .......
The Structured Credit Interview 1 May 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
Accunia maps a steady course in CLOs focussing on long-term value
Danish manager prioritises CLO complexity premiums and active credit selection over market timing
In the intricate world of structured credit, Accunia Credit management emerges as a thoughtful navigator, challenging conventional investment wisdom with a nuanced approach to CLO investing.
Speaking to SCI, David Altenhofen, head of investments at Accunia Credit Management says the firm’s viewpoint is it does not believe in timing the market but about time in the market, .......
The Structured Credit Interview 7 April 2025
Bridging finance business set to scale amid market demand
Faes & Co ceo Christian Faes outlines his strategy to expand the firm's footprint in the US
Faes & Co, the investment firm led by former LendInvest founder Christian Faes, plans to expand its US real estate bridging finance business following a funding boost from OakNorth Bank last month. The firm launched its lending arm, F2 Finance, in early 2023 and is currently providing short-term RE loans across 14 states, including California, Texas and .......
The Structured Credit Interview 11 March 2025
Shaping Aperture's structured credit strategy
Vladimir Lemin, global head of structured credit at Aperture Investors, answers SCI's questions
Q: You recently joined Aperture to lead the newly launched structured credit strategy. What attracted you to the firm and role?
A: Throughout my career, I’ve been fortunate to work with and learn from some of the best investors and risk managers at Magnetar Capital and One William Street Capital. My time at the Wharton School also sparked .......
The Structured Credit Interview 28 January 2025
Sustainability first
Ryan Jaskiewicz, president of structured finance at Climate First Bank, answers SCI's questions
Q: Climate First Bank, the world’s first FDIC-insured bank dedicated to the environment and sustainability, recently announced its structured finance expansion, with you leading the effort. What motivated this move, and why now?
The Structured Credit Interview 16 December 2024
A: From the beginning, the bank’s original business plan included a factoring and asset-based lending department. These offerings fall under what we now call the structured finance .......
CLO manager corner series: Investcorp
CLO market faces loan supply challenges, but outlook remains strong
A limited supply of new loan issuance could challenge the CLO market in the future, with the development of a private equity pipeline needed, according to Investcorp.
Barry Lane, managing director of CLO new issuance in Europe at Investcorp, tells SCI that despite this risk, the current number of deals being marketed, as well as those that have .......
The Structured Credit Interview 18 November 2024