Weekly Issue Archive »

Issue 987 - 23rd January

  • News Analysis

    • Asset-Backed Finance

      • 2026 ABF outlook: Capital returns to Europe with infrastructure investments

        Infrastructure investment and mega-partnerships to drive interest

        US capital is expected to flow back into European infrastructure and private credit markets after years of domestic focus in 2026. The capital flow is driven mostly by competitive pressures at home and mounting investment needs across Europe as it fa...

    • CLOs

      • CLOs drive record European securitisation issuance, further growth in 2026

        Record 2025 supply and resilient performance underpin expectations for continued CLO-driven expansio...

        CLOs’ share of the total European securitisation market grew in 2025 and is forecast to expand further in 2026, according to latest data from Deutsche Bank. In the bank’s ‘Weekly Market Monitor’ published las...

    • Asset-Backed Finance

      • Swiss asset manager backs Brazilian credit card receivables with US$200m

        Draupnir Capital structures tokenised product to unlock access to Latin America's largest payments m...

        BlackOpal, LATAM's emerging global payments finance platform has announced the launch of GemStone, its flagship institutional product in tokenised Brazilian credit card receivables. The launch is backed by a US$200m three-year anchor facility structu...

    • ABS

      • European ABS ends 2025 on strong footing as carry drives returns

        Supportive technicals and high carry underpin optimism for a 2026 issuance rebound

        The European ABS market closed 2025 on a constructive note, with asset managers pointing to tightening secondary spreads, supportive demand technicals and carry-driven returns, even as primary issuance slowed into year-end, according to monthly fund...

    • Asset-Backed Finance

      • SCI In Conversation Podcast: Yerbol Orynbayev, independent consultant

        We discuss the hottest topics in securitisation today...

        In this episode of SCI in Conversation, US editor Simon Boughey speaks to Yerbol Orynbayev, an independent consultant for financial and tech firms and also former deputy Prime Minister of Kazakhstan. Recorded in December, Orynbayev talks about what h...

  • SRT Market Update

    • Capital Relief Trades

      • Slow start, building optimism

        SRT Market Update

        The European SRT market is showing early signs of revival after a relatively quiet start to the quarter, investors tell SCI. Barclays has returned to the market with a corporate SRT under its Colonnade programme, with bids due last Friday. The deal...

      • Pan-European lender's consumer SRT sparks credit concerns

        SRT Market Update

        UniCredit is said to be testing investor appetite for a transaction linked to Italian consumer loans, with discussions understood to be at a preliminary, non-binding stage, SCI has learned. While Italian bank supply continues to surface, the potent...

      • German banks line up US CRE SRTs after Aareal and PBB deals

        SRT Market Update

        Several German lenders are exploring SRT transactions backed by US commercial real estate portfolios, following the execution of two recent deals by Aareal Bank and Deutsche Pfandbriefbank (pbb), SCI has learned. At least three German banks are und...

      • UAE bank in preliminary talks on possible SRT

        SRT Market Update

        BNP Paribas is understood to be advising an Abu Dhabi-based commercial fund on a potential transaction, according to market participants, with preparations said to be at an early stage. While details remain scarce, the process is not thought to hav...

      • Singapore-based bank nears market with SRT deal

        SRT Market Update

        DBS Group Holdings is understood to be close to launching an SRT transaction, according to market participants. The Singaporean bank is said to be in late-stage discussions with SRT investors, with the final structure, including tranche composition...

  • News

    • Asset-Backed Finance

      • Patrimonium targets €500m for new ABL fund

        Middle Market Debt Fund III is eyeing German and Nordic investors

        Patrimonium Asset Management is targeting €500m for the next iteration of its asset-backed lending fund, SCI has learned. Patrimonium Middle Market Debt Fund III will focus on sponsored and non-sponsor-backed companies in Europe. The fi...

      • ABF Deal Digest: TPG, OneMain extend forward flow agreement to US$2.4bn

        A weekly roundup of private asset-backed financing activity

        This week’s roundup of private ABF activity sees TPG extending its forward flow agreement with OneMain Financial. Elsewhere, Goldman Sachs has provided a new back leverage facility for Puma Property Finance, while Ares has launched a consum...

    • Capital Relief Trades

      • Latest SRTx fixings released

        SRT spreads steady as liquidity fuels secondary activity

        Improving liquidity conditions increasingly underpinned stability in SRT spreads, with December 2025 SRTx fixings pointing to a market where secondary trading, rather than primary deal flow, was driving price discovery at year-end. The data suggests...

  • Talking Point

    • Capital Relief Trades

      • From capital to capacity

        Riz Sheikh, head of portfolio and risk transfer solutions at BPL, highlights the importance of conne...

        Global trade and investment flows are being shaped by a combination of familiar pressures – geopolitical fragmentation, uneven liquidity and shifting regulatory priorities. Yet the underlying challenge remains the same: how to keep credit f...

  • The Structured Credit Interview

    • Asset-Backed Finance

      • ABF fund in focus: Davidson Kempner closes second income fund

        Firm's partners discuss US$1.1bn vehicle's strategy, investor base, and opportunities in underpenetr...

        Davidson Kempner has closed its second global ABF fund at over US$1.1bn, exceeding its fundraising target and building on the success of its US$750m predecessor. SCI’s Marina Torres spoke with Chris Krishanthan, partner and head of European...

  • Market Moves

    • Structured Finance

      • Job swaps weekly: Squarepoint appoints industry vet to lead CLO platform

        People moves and key promotions in securitisation

        This week’s roundup of securitisation job swaps sees Squarepoint hiring an AXA Investment Managers veteran to spearhead its CLO management platform. Elsewhere, Varde Partners has made two senior promotions in its assed-based finance team, w...


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