Sector developments and company hires

Credit analysts poached

Cairn Capital has appointed José Ferrero and Vihren Jordanov as senior credit analysts, focusing on loans and reporting to credit research head Mark Stieler. Ferrero was previously a credit analyst at Partners Group, where he was responsible for European coverage of the business and consumer services, chemicals and healthcare sectors. Jordanov joins from Alcentra, where he was a vp covering the European cable and telecoms and entertainment/media sectors, as well as CLO portfolio analysis, construction and optimisation.

CRE CLO debut announced

Amherst has prepared a debut CRE CLO. Dubbed ACAM 2019-FL1, it is a typical cash-flow commercial real estate (CRE) collateralized loan obligation (CLO) transaction, backed by a US$400.3m portfolio of commercial mortgage assets. Both Moody’s and DBRS Morningstar have assigned provisional ratings of triple-A on the US$206.5m class A notes.

Partner announced

Kennedy Lewis Investment Management has hired Doug Logigian as a partner and its president, effective in early 2020. Logigian joins from Blackstone, where he was a senior md. Most recently, he was the head of capital markets and a portfolio manager for GSO Capital Partners, sitting on the firm's investment committee for several of its opportunistic credit funds.

PF md appointed

KBRA has appointed Michele Patterson as md of business development for project finance and infrastructure. Patterson joined KBRA in May 2013 as a senior director and head of RMBS ratings. 

Whole biz debut

Restaurant chain, Jersey Mike’s, is marketing an inaugural whole business securitisation. Dubbed Jersey Mike’s Funding 2019-1, the US$500m ABS is backed by existing and future franchise and license agreements, existing and future company operated restaurant royalties, certain technology and franchise-related fees, vendor program payments and intellectual property tied to its 1,599 franchise locations and 16 company-operated restaurants, representing approximately 99% and 1% of total systemwide locations, respectively. 

All of the restaurant locations are located within the US, Canada and Australia.  KBRA has assigned a provisional rating of triple-B on the US$500m class A2 notes.