Market Moves

  • PRA urged to fix non-neutrality issue

    Market updates and sector developments

    PCS has submitted its response to the UK PRA in connection with the consultation on the introduction of the output floor pursuant to Basel 3.1, as it relates to securitisation (SCI 1 November 2023). While welcoming the PRA’s suggestions, the organisation points out that “all the obvious difficulties that flow from a rigid application of the proposed Basel .......

    Market Moves 1 February 2024

  • Powen pioneers Spanish solar ABS

    Market updates and sector developments

    Powen Group, a portfolio company of Brookfield Asset Management, has closed a pioneering bank-funded securitisation of Spanish solar assets with a value of up to €120m. The transaction is one of the first private European solar ABS and is the first to finance a combined portfolio, comprising both residential solar loans, as well as solar leases and power purchase .......

    Market Moves 30 January 2024

  • Office loans face global DFG challenges

    Market updates and sector developments

    AEW has published its first global commercial real estate debt funding gap (DFG) analysis, which provides insights on the relative refinancing challenges faced by three key regions. The findings indicate that Europe has the largest DFG on a relative basis, standing at 16% of loan originations, closely followed by the US at 14%, with Asia Pacific remaining relatively immune. .......

    Market Moves 30 January 2024

  • Job swaps weekly: Dechert rings the changes in US securitisation group

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Dechert make two appointments to its US asset finance and securitisation team, including the appointment of a new head. Elsewhere, Fried Frank has appointed a structured finance expert as a London-based partner, while TCW Group has appointed a former Brigade Capital Management partner to lead its newly formed asset-backed finance (ABF) .......

    Market Moves 26 January 2024

  • TCW launches ABF business

    Market updates and sector developments

    The TCW Group has launched a dedicated asset-backed finance (ABF) business that will be anchored with over US$1bn in capital commitments from TCW, partners and affiliates. Dylan Ross has joined the firm as md and portfolio manager to lead the asset-backed finance investment efforts.

    Ross brings to TCW almost 20 years of experience in alternative credit investing with .......

    Market Moves 26 January 2024

  • GSEs get set for social MBS

    Market updates and sector developments

    Fannie Mae and Freddie Mac have unveiled a new iteration of their social scores, rebranding them as ‘Mission Index Scores’, which will serve as the basis for future social-labeled agency MBS. As part of the move, the GSEs have launched Single-Family Social Bond Frameworks and intend to begin disclosing new impact reporting metrics for investors.

    Compared to the .......

    Market Moves 24 January 2024

  • Job swaps weekly: Permira Credit promotes pair to lead expansion

    People moves and key promotions in securitisation

    This week’s round-up of securitisation job swaps sees Permira Credit appoint two new co-heads to lead the firm’s expansion. Elsewhere, Hildene Capital Management has snapped up a Jefferies executive as head of capital markets, while Axonic Capital has promoted its head of credit to the newly created role of co-cio. 

    David Hirschmann and Ariadna Stefanescu have been appointed .......

    Market Moves 19 January 2024

  • IFC, SG team up on sustainable finance

    Market updates and sector developments

    Societe Generale and IFC have signed a Collaboration Framework Agreement to accelerate efforts on sustainable finance in developing countries, as part of both institutions' shared ambition to contribute to the UN Sustainable Development Goals (SDGs) and a strong commitment to the environmental transition and sustainability.

    As part of this agreement, the two institutions aim to further develop wide-ranging .......

    Market Moves 19 January 2024

  • IACPM 'stands ready' to work with US regulators on SRT

    Market updates and sector developments

    The IACPM says it stands ready to share data and experience on synthetic securitisation with US federal regulators, in order for US banks to share risk in an effective, safe and transparent manner with specialised long-term partners. The move follows recent positions taken in the press or in letters sent to the US agencies, notably by Sheila Bair and .......

    Market Moves 16 January 2024

  • Job swaps weekly: All change at Voya as new ceo announced

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Voya Investment Management announce a successor to retiring ceo Christine Hurtsellers. Elsewhere, Greystone has snapped up an industry veteran as senior md for structured finance, while Slate Asset Management has promoted two executives to md in Chicago and Frankfurt.

    Matt Toms is to take over as ceo at Voya Investment .......

    Market Moves 12 January 2024

  • Riverstone co-founders launch Breakwall Capital

    Market updates and sector developments

    Riverstone Holdings co-founders have launched a new independent energy focused asset-manager, Breakwall Capital, dedicated to supporting energy companies through the complexities of the energy transition. The new firm will be led by Riverstone co-founders and colleagues of close to 20 years, Christopher Abbate, Jamie Brodsky and Daniel Flannery.

    Breakwall will support conventional, renewable and ‘next generation’ energy companies .......

    Market Moves 5 January 2024

  • Job swaps weekly: Greenberg Traurig appoints three new partners from Seward & Kissel

    People moves and key promotions in securitisation

    The first weekly roundup of securitisation job swaps of 2024 sees Greenberg Traurig appointing a trio of structured finance specialists as partners. Elsewhere, Obra Capital has hired two senior investment executives from AllianceBernstein and RiverRock Funds, while Stout’s md and co-lead of structured credit leaves the firm for a new project.

    Kalyan Das has joined Greenberg Traurig, along .......

    Market Moves 5 January 2024

  • CIFC launches multi-strategy credit fund

    Market updates and sector developments

    CIFC has launched a UCITS multi-strategy credit fund, combining sub-investment grade fixed income with structured finance, senior secured loans and liquid credit investments identified by its distressed team. The firm is looking to capitalise on growing sentiment that rates have peaked and on investors' resulting appetite for fixed-rate credit in order to "lock in the current high rates".

    The .......

    Market Moves 4 January 2024

  • Obra acquires Unified and taps RiverRock's Annino

    Market updates and sector developments

    Obra Capital, the US-headquartered asset manager focused on insurance special situations, structured credit, asset-based finance and longevity, has acquired life and health insurance business Unified Life Insurance Company. The announcement coincides with the group’s appointment of RiverRock Funds’ ceo Anthony J Annino as senior md and head of longevity.

    The Unified deal is intended to expand Obra’s presence .......

    Market Moves 3 January 2024

  • ESMA launches RTS and ITS consultation

    Market updates and sector developments

    The European Securities and Markets Authority (ESMA) has launched a consultation on revisions to the securitisation disclosure framework. The process is due to run until 15 March and aims to collect stakeholders’ views on proposed changes to the disclosure regulatory technical standards (RTS) and implementing technical standards (ITS).

    In particular the consultation will focus on the four proposed options. These include “putting .......

    Market Moves 21 December 2023

  • Performance-related triggers RTS adopted

    Market updates and sector developments

    The European Commission has released a Commission Delegated Regulation supplementing the Securitisation Regulation with regard to regulatory technical standards (RTS) specifying performance-related triggers and the criteria for the calibration of those triggers in STS synthetic securitisations. The RTS specify the two mandatory triggers under point (a) of Article 26c(5) of the Securitisation Regulation, set out the additional mandatory backward-looking .......

    Market Moves 18 December 2023

  • Job swaps weekly: Reed Smith poaches Linklaters' Drury

    People moves and key promotions in securitisation

    This final weekly roundup of securitisation job swaps of 2023 sees Reed Smith snapping up a Linklaters partner and structured finance specialist. Elsewhere, ARIA Commodities has lured a Deutsche Bank veteran as head of structured trade finance, while CBRE has made two senior promotions in its European team.

    Linklaters veteran Mark Drury has joined Reed Smith as a .......

    Market Moves 18 December 2023

  • PRA publishes first Basel policy statement

    Market updates and sector developments

    The PRA has published the first of two near-final policy statements covering the implementation of the Basel 3.1 standards for market risk, credit valuation adjustment risk, counterparty credit risk and operational risk. The near-final policy statement takes into account feedback received to the PRA’s consultation paper (CP) on the Basel 3.1 standards published in November 2022.

    The PRA .......

    Market Moves 15 December 2023

  • Basel 3 'roadmap', reporting ITS published

    Market updates and sector developments

    The EBA has published its roadmap on the so-called Banking Package, which implements the final Basel 3 reforms in the EU. The roadmap aims to strengthen the prudential framework, as well as ensure an international level playing field. It also seeks to provide clarity on how it will develop the mandates implementing the legislation and finalise the most significant .......

    Market Moves 14 December 2023

  • Job swaps weekly: EU finance ministers choose Calviño for EIB

    People moves and key promotions in securitisation

    This week’s roundup of securitisation job swaps sees Nadia Calviño chosen to become head of the European Investment Bank (EIB). Elsewhere, the Structured Finance Association welcomes seven industry leaders to its new board of directors, while a Mayer Brown partner and structured finance specialist has joined Jones Day as partner in its London office.

    Spain’s deputy prime minister .......

    Market Moves 8 December 2023

  • SRT inspection

    Lawmaker warns of perceived SRT risks

    The risks of SRT trades “may not be fully understood” Senator Jack Reed, (D-RI) has warned US regulators. In a letter to the Federal Reserve, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC), Reed, a .......

    Market Moves 5 December 2023

×