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• State Street and Janus Henderson highlight ABS ETF liquidity

  State Street and Janus Henderson argue that liquidity in high-quality ABS is solid, citing robust se...

  ABS ETFs are still a relatively new segment of the market, but two of the largest entrants are making the case that investor concerns about liquidity are misplaced. Janus Henderson launched JABS in 2025, offering exposure to high-quality s...

• HSBC eyes up to US$2bn for debut NAV fund

  Recently hit US$1bn anchor closing, will issue senior loans to PE funds

  HSBC Asset Management is aiming to raise up to US$2bn for its debut NAV lending fund, SCI has learned. The NAV Financing Partnership Strategy recently hit a US$1bn anchor round closing for the fund and is now pushing towards its US$1.5bn to US$2bn...

• US loan performance patchy

  Various areas in distress, but none as yet to worry SRT

  Federal Family Education Loan Program (FFELP) ABS defaults rose for the second straight quarter in Q1, Fitch reported today (June 16), amid generally worsening but unevenly spread loan performance across assets in the US. The rating agency expects...

• Jeanine Arnold on ratings advisory and the future of ABF

  Vistina's new head of ratings advisory sits down with SCI to discuss her newly created role and why ...

  Q: You've had an impressive career spanning Fitch Ratings, Bank of America Merrill Lynch, and most recently Moody's. What drew you to making the move to Vistina? A: It’s clear to me that private credit and ABF are scaling rapidly, and it'...

• SCI In Focus: CLO equity investors wrestle with captive fund dominance

  Investors turn to the secondary as captive funds push primary returns down further

  The CLO equity landscape has been fundamentally shifted by the ever-growing dominance of captive equity funds, and the effects of this change are becoming increasingly stark for investors. Captive equity funds have become the driving force behind t...

• ABF Deal Digest: Blackstone launches ABL platform, while Edge Focus inks US$500m partnership

  A weekly roundup of private asset-backed financing activity

  This week’s roundup of private ABF activity sees Blackstone Credit & Insurance launch SablePointe Credit Strategies, a new asset-based lending platform. Meanwhile, Houlihan Lokey has placed US$250m of asset-backed notes in an SPV, w...

• Capital divergence could fuel Europe's next wave of SRT

  US deregulation and stricter European rules are creating sharply different incentives for bank capit...

  US-led bank deregulation is beginning to reshape the competitive position of the world’s largest banks, with US institutions gaining capital flexibility while European peers face rising requirements and stronger incentives to manage balance...

• B3E re-proposal comment period ends, increased bank lending targeted

  New rules tempt bank back to mortgages, indicating perhaps more SRT

  The re-proposed Basel III Endgame (B3E), for which the comment period concludes today (June 18), incorporates plans to make mortgage lending for banks more attractive and this could, in turn, boost the US SRT market, say onlookers. Banks originate...

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• Single-name CRTs emerge in digital infrastructure financing

  SRT market update

  Funds managed by Golub Capital have provided credit protection on portions of two digital infrastructure loans with an aggregate notional amount of approximately €630m, according to an announcement by law firm A&O Shearman. The tra...

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• British Business Bank backs Propel with £75m facility and first public ABS investment

  New £75m facility and securitisation investment support growth of UK asset finance and SME fund...

  The British Business Bank has announced two new transactions with asset finance provider Propel Finance, including a £75m ENABLE Funding facility and an investment in Propel’s inaugural public asset-backed securitisation...

• Global ABS update: Structured finance at a turning point

  Insights from Global ABS 2026 reveal growing convergence between private credit and securitisation, ...

  Last week's structured finance discussions at the annual Global ABS conference in Barcelona, attended by SCI, highlighted an industry in transition, with innovation, regulation and new sources of capital reshaping the market’s future. Amo...

• Canyon Partners launches ABF venture

  US$30bn firm bets on permanent capital and a Wall Street veteran to capture a slice of the boom

  Canyon Partners, the US$30bn global alternative investment manager, has announced the creation of Canyon ABF Partners, a joint venture designed to originate more than US$5bn in asset-backed loans annually. The venture is backed by anchor investment...

• Schroders expands SRT push with senior hire from CQS

  The London-based investment firm has hired Bob Paterson from Manulife CQS to lead its European SRT a...

  Schroders Capital has appointed Bob Paterson as head of European SRT and ABF investments, creating a new senior role as the asset manager seeks to expand its presence across structured credit, SCI has learned. Paterson joins from Manulife CQS Inves...

• Europe can double SRT market

  Mortgage SRT and insurers emerge as key battlegrounds in EU securitisation reform

  European policymakers should use the ongoing securitisation reform to unlock mortgage SRT transactions and expand the role of insurers as providers of credit protection, according to a discussion paper published by Paris Europlace ahead of trilogue n...

• Fragmented rules and ample capital to keep Asian SRT market niche

  S&P says abundant capital and patchy regulation will slow SRT adoption across South and Southeas...

  South and Southeast Asia's SRT market is likely to remain small and fragmented, with regulatory uncertainty compounded by a lack of demand from well-capitalised banks, according to a recent S&P Global Ratings’ report. The agency s...

• Spanish bank prints new dollar prime auto CLN

  Strong credit profile for Santander's first in 2026

  Santander Bank has priced its debut prime US auto loan CLN of 2026, a US$279m risk transfer deal designated SBCLN 2026-A. This is the borrower’s tenth auto CLN, and it was last seen in the market in December 2025. The reference pool con...

• M&G launches EU active ETF

  The active fund launches with €180mn in funding from external investors

  M&G Investments has launched a €200m actively managed ETF investing primarily in triple-A-rated European CLO paper. The fund, M&G AAA EUR Active UCITS ETF (MNGA), features €180m in investment from external...

• Muzinich debuts in EU CLO ETF market

  Muzinich & Co. leverages decades of European credit expertise as it enters the ETF market with a...

  Global credit specialist Muzinich & Co. has launched its first European ETF, enhancing investor access to its established loan, CLO, and short-duration investment-grade capabilities. The 'Muzinich AAA CLO UCITS ETF' aims t...

• Manager tiering drives wider pricing gaps as MVOC levels decline

  Poh-Heng Tan from CLO Research provides insights into how MVOC and manager tiering influence US CLO ...

  The table below presents benchmark BB tranche discount margins (DMs) for US CLOs with reinvestment periods ending in 2029-2031, across different MVOC bands and manager tiers. The benchmark levels are derived from average BWIC DM prints by MVOC band a...

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• Job swaps weekly: Former Blackstone exec sets up capital solutions firm, Schroders hires EU ABF and SRT investments head

  People moves and key promotions in structured credit

  This week’s roundup of structured credit job swaps sees former Blackstone executive setting up a new institutionally-backed alternative asset management firm, whilst Fasanara Capital appoints head of U.S. capital formation as it op...