Sector developments and company hires

Europe

Muzinich & Co has hired Laurence Kubli as structured credit specialist with immediate effect. Based in Zurich, Laurence will focus on creating the firm’s first structured credit strategies in this newly-created role. Laurence joins from GAM Investments, where she was senior pm, structured finance and corporate credit for 11 years. Prior to that, she held various roles at Clariden Leu Bank, Man Group, Merrill Lynch Capital Markets and Credit Suisse.

Granite refinancing

Cerberus is in the market with Towd Point Mortgage Funding 2019 - Granite4, backed by prime UK residential mortgages previously securitised within the Towd Point Mortgage Funding 2016 - Granite 1 and 2016 - Granite2 RMBS. The majority (93.1%) of the £3.9bn pool is represented by the assets of Granite 1 - which will be transferred by a true sale – with the remainder represented by the assets of Granite 2, which will be transferred to the issuer by way of English and Scots law declarations of trust. Cerberus announced last week that it planned to exercise its portfolio purchase option in connection with the deals (SCI 22 March).