Weekly Issue Archive »

Issue 1003 - 15th May

  • News Analysis

    • Capital Relief Trades

      • SCI In Focus: Morocco quietly emerges as Africa's synthetic securitisation pioneer

        Morocco is gradually building one of Africa's most advanced synthetic securitisation markets through...

        Morocco is emerging as one of the few jurisdictions in Africa actively developing a synthetic securitisation market, with a small but growing pipeline of privately placed transactions signalling the gradual expansion of domestic risk-transfer capabil...

    • Asset-Backed Finance

      • ABF and the UK real estate opportunity

        Continued bank retrenchment is opening additional opportunities for ABF

        ABF has become the alternative mode of credit in the UK real estate market as banks continue to retrench and the financing gap in the lower-to-mid market widens. According to new research from MERA Investment Management and the London School of Eco...

    • Capital Relief Trades

      • SRT: First quarter data shows a more strategic phase - SCI Analytics

        SRT Quarterly Report points to increasing institutionalisation, resilient investor demand and expand...

        The global SRT market entered 2026 with strong momentum, but the defining feature of the first quarter was not simply issuance volume. Instead, data compiled in the latest SCI Analytics Quarterly SRT Report reveals how the market is evolving structur...

    • CLOs

      • Manager tiering drives CLO double-B pricing as MVOC weakens

        Poh-Heng Tan from CLO Research provides BWIC colour insights on US CLO BB tranche pricing

        Using a sample of US BSL CLO BB bonds with reinvestment end dates between 2029 and 2031 that have been placed on BWIC since 14 April (with released trading colour), it is interesting to observe that both MVOC and manager tiering play an important rol...

    • Asset-Backed Finance

      • Pantheon raises US$1bn in debut private equity CFO

        Strong demand from insurers is driving structured credit push

        Pantheon has closed its first private equity collateralised fund obligation at US$1bn, surpassing its US$750mn target. The CFO provides exposure to Pantheon's flagship private equity secondaries and co-investment strategies, alongside a seeded port...

      • Beach Point on ABF strategy and market outlook

        Benjamin Hunsaker, head of structured credit & ABF at Beach Point Capital, answers SCI's questio...

        Q: How would you describe Beach Point and your role there? A: Beach Point manages over US$20bn in assets. We like to think of ourselves as the alternative to the largest alternative managers. I'm a partner, and I head the firm’s structure...

  • SRT Market Update

    • Capital Relief Trades

      • IFC teams up with six institutions on historic trade finance SRT

        First MDB trade to utilise three-tiered capital structure

        IFC has finalised its inaugural Trade Finance Synthetic Securitisation (TFSS), marking the institution’s first use of SRT technology to mobilise private capital to support trade and jobs in emerging markets. The deal is also the first to ut...

  • News

    • ABS

      • EU structured credit remains firm despite geopolitical strain

        ABS and CLO markets remain supported by strong demand and resilient collateral performance

        European structured credit markets continue to show resilience despite geopolitical uncertainty, with investors remaining active in ABS and CLOs despite broader macro risks and higher energy costs feeding into credit markets. Speaking to SCI , a ma...

    • Capital Relief Trades

      • Latest SRTx fixings released

        SME demand drives SRT spread recovery despite macro volatility

        The latest SRTx fixings for April 2026 point to a market that is slowly bouncing back after the volatility seen earlier in the year, with investors continuing to rotate capital across corporate and SME ris...

      • Iberian SRT market 'no longer niche'

        Access to granular historical data remains critical

        Iberian industry participants at SCI’s SRT Roadshow in Madrid last week agreed that risk transfer is “by no means a niche asset class anymore”, as a wider range of issuers and investors enter the market. Discussions duri...

      • Commerzbank eyes new asset classes for SRT programme

        German lender's new 'Momentum' strategy targets revealed

        Commerzbank is gearing up to use SRTs beyond traditional corporate loan portfolios, as the lender looks to reach long-term profitability targets outlined in its newly updated ‘Momentum’ strategy. In a strategic update published...

      • SRT fast track gaining traction

        Call for banks to contribute to 'simplification agenda'

        Only two SRT transactions were submitted to the ECB via its new ‘fast track’ procedure during the first four months of 2026, the central bank has revealed in its latest supervisory newsletter. The ECB says it completed its assessm...

    • CLOs

      • Pearl Diver launches investment-grade CLO strategy to broader market

        The tranche investment specialist targets ETF competition with a more flexible, actively-managed str...

        Pearl Diver Capital has opened its investment grade (IG) CLO strategy to the broader market, expanding the fund to a wider base of institutional investors. The Pearl Diver Floating Rate Investment Grade Fund has been operating since late 2024 with...

      • Mountain Point debuts $500m CLO with systematic risk strategy

        Connecticut-based manager launches its first CLO backed by nearly 1,000 syndicated loans

        Mountain Point Credit Management recently closed on its inaugural US$500mn CLO transaction consisting of nearly 1,000 broadly syndicated loans - over double of what a traditional BSL CLO typically holds - focusing on diversity and an algorithmic appr...

      • Kartesia set to launch first EU CLO

        Kartesia is preparing to enter the European CLO market with its inaugural Euro CLO expected in H2

        Kartesia is preparing to launch its first European CLO in the second half of the year, with Deutsche Bank acting as arranger, SCI understands. The move follows the recent launch of Kartesia Loan Management (KLM), the firm’s platform dedic...

  • Talking Point

    • ABS

      • Chinese EV expansion seen as gradual shift in Europe, not auto ABS disruption

        Morningstar says underwriting quality and residual value management matter more than vehicle origin

        Chinese electric vehicle manufacturers are becoming increasingly visible across Europe, but according to Morningstar’s latest ‘Securitisation Insights’ podcast, the impact on auto ABS remains more evolutionary than disru...

  • Market Moves

    • Structured Finance

      • Job swaps weekly: NorthWall lands major CLO hire from Permira

        People moves and key promotions in structured credit

        This week’s roundup of structured credit job swaps sees alternative credit specialist NorthWall Capital make a significant CLO market hire with the appointment of Andrew Lawson from Permira. Elsewhere, Natixis CIB has announced a series of...


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