Market Moves
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Job swaps weekly: Norton Rose Fulbright adds Paris-based partner TEST
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Norton Rose Fulbright adding a partner to its banking and finance practice in Paris. Elsewhere, CBRE has lured a new executive director to its European debt and structured finance team from Rothesay, while Alantra has appointed a structured-finance-focused senior advisor.
Norton Rose Fulbright has strengthened its banking and finance practice .......
Market Moves 30 August 2024
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Job swaps weekly: Texas Capital bags sales and trading MD
People moves and key promotions in securitisation
A quiet week for securitisation job swaps ahead of the UK’s August bank holiday. Nordea Asset Management is expanding its private credit presence in the Nordic region, while Texas Capital has beefed up its securitisation and whole loan capabilities.
Texas Capital Securities has recruited Craig Meltzer as md, sales and trading, based in New York. He focuses on securitisations .......
Market Moves 23 August 2024
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CLO analytics firm eyes private credit
Market updates and sector developments
Siepe has raised US$30m in a Series B funding round led by WestCap, which will drive a multi-product roadmap, including the expansion of the firm’s AI and machine learning capabilities. In conjunction with the new funding, Siepe has appointed Mark Schultis – who joined the firm as an advisor in October 2023 – as president.
The Siepe team .......
Market Moves 22 August 2024
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CRE analytics tie-up agreed
Market updates and sector developments
SitusAMC has entered into a strategic partnership with CMBS.com, the owner of Backshop, a commercial real estate loan origination, management and servicing software platform. As part of the partnership, SitusAMC will transition ownership of CLOSER - its CRE origination system – to CMBS.com, provide growth capital and obtain a minority ownership position in CMBS.com. Additionally, SitusAMC will onboard the .......
Market Moves 20 August 2024
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Job swaps weekly: New Cayman structured finance chief for Maples
People moves and key promotions in securitisation
This week’s roundup of securitisation job swaps sees Maples and Calder naming a new head of its Cayman Islands structured finance practice. Elsewhere, Scotiabank has staffed up for the launch of its new Houston-based mortgage capital markets business, while an ex-Stout md and co-lead of structured credit has taken up a C-suite role at Unifi Asset Management.
Maples .......
Market Moves 16 August 2024
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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
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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
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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
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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
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Job swaps weekly: DWS boosts alts franchise
People moves and key promotions in securitisation
Market Moves 2 August 2024
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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
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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
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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
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Job swaps weekly: Reed Smith snaffles top hire
People moves and key promotions in securitisation
Market Moves 26 July 2024
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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
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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
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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
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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
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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
