SCI Multimedia

Kelly Mellecker, a partner at Kirkland & Ellis in New York, chats to Simon Boughey, SCI US editor, about recent developments in the digital infrastructure market - the MVP of the esoteric sector. She talks us through seemingly irresistible momentum in the data centre and fibre classes, the likely impact of the capex needs of AI and the pros of cons .......

Priya Desai, md at MetLife Investment Management, speaks with SCI’s Marta Canini about the evolving landscape of intellectual property securitisation. She discusses her recent move from MetLife’s public structured finance team to the private side, the expanding scope of IP-backed deals beyond music royalties, and the unique challenges of underwriting intangible assets. Looking ahead to 2025, she highlights growing investor appetite .......

Evan Wallach, co-president of GlobalAir Finance Services, an advisory to investors in the aviation market, talks to Simon Boughey about the recent vicissitudes of this sector. He addresses the sudden refreshing upswing beginning in July of last year after the complete market shutdown during the pandemic, current pricing dynamics,  and then more recent headwinds in the shape of general market uncertainty. Simon .......

Charles Callahan, founder and president of Heliostat Capital, a New York risk advisory, speaks to SCI US editor Simon Boughey about loan exposures at US regional banks. He highlights that these might be worse than they look from the outside, how the reg cap market could be the answer, and what are the obstacles to greater regional bank participation.  Simon Boughey  .......

Jed Miller, partner at Cadwalader Wickersham & Taft, speaks to SCI US editor Simon Boughey about the likely regulatory hurdles for the US securitisation industry in 2025. He highlights conflicts of interest provisions, the possibility of the Fed speeding up the approval process for CLNs, and, inevitably, the likely trajectory of B3E. .......

Anthony Lombardi, partner at Dechert, speaks with SCI's Marta Canini about emerging opportunities in fund finance. He highlights the rapid growth of NAV facilities, driven by rising liquidity demands in the US and UK, the expansion of private capital funds, market maturation, and cyclical challenges. Lombardi also shares his outlook on the future trajectory of the fund finance market. .......

Robert Simmons, senior associate at A&O Shearman, speaks to Joe Quiruga about the SRT markets on each side of the Atlantic. Simmons discusses the effect of Basel 3 endgame on Europe and North America, regulatory issues impeding issuance in the European market, the evolving role of lawyers as the SRT space becomes more programmatic, and more. .......

Ashley Thomas, head of structured finance (UK) at ARC Ratings, speaks to SCI's Marta Canini about asset-backed finance (ABF). Thomas discusses what ABF is, the key drivers behind the growing interest in the asset class, comparisons between the European and US markets, and more. .......

Matthew Moniot, md and co-head of credit risk sharing at Man Group in London, speaks to SCI’s Simon Boughey about the latest trends and developments in the SRT market. Moniot discusses the differences in attitude to – and regulation of – the synthetic securitisation market in Europe and North America, as well as the continuing utility of the mechanism to banks on both .......

Jie Liang, sector lead in S&P Global Ratings’ structured finance esoteric ABS group, speaks to SCI's Simon Boughey about data centre securitisation. Liang discusses the use of proxy data to achieve ratings in the asset class, the extent to which investors are prepared to accept ratings derived from these methodologies, whether there are any signs that the growth data centre financing will .......

Patricia Lynch, partner and leader of the US securitisation practice at Ropes & Gray, speaks to SCI's Simon Boughey about whole business securitisation (WBS). Lynch discusses the types of assets that are particularly suitable for WBS, developments in the makeup of the investor pool, the emerging use of the product in M&A contexts, and more. .......

Gary Miller, head of Revere Capital’s specialty finance team, speaks to SCI’s Simon Boughey about some of the latest developments in esoteric ABS. Miller discusses the types of asset classes that currently appeal to him, how those asset class types have changed over the years, the likely short-term growth areas, and more. .......

Alien Pauw, director and senior investment manager at PGGM Investments, speaks to SCI's Vincent Nadeau about ESG and investing in credit risk sharing. Pauw discusses the pension fund investor’s relationships with partner banks, how it differentiates CRS transactions from capital relief trades or risk transfers, the role that CRS transactions can play in the context of ESG goals and the climate .......

Begum Gursoy, director at Morningstar Sustainalytics, speaks to SCI's Kenny Wastell about transition finance in the context of hard to abate industries. Gursoy outlines activity levels and deal pipelines in transition finance, the way in which a ratings agency goes about assessing environmental impact in deals, the role of labels in any given transaction, and the importance of being alert to any .......

  Elena Rinaldi, portfolio manager on TwentyFour Asset Management's ABS team, speaks to SCI's Corinne Smith about the CLO market and ESG initiatives within the space. Rinaldi discusses the key drivers behind the record levels of issuance in Q1 2024, how a wave of loan repricings in both Europe and the US are affecting CLO portfolios, the potential impact of the recent Altice .......

Robert Bradbury, md and head of structured credit execution at Alvarez & Marsal, speaks to SCI's Simon Boughey about pricing dynamics in the European SRT market. Bradbury discusses the quality of underlying assets, the growth in prevalence of standardised features, the synergy between growth of supply and demand, the impact of new entrants on the buyer front, and comparisons with pricing .......

Mark Kruzel, senior vice president for bank capital markets at PIMCO, speaks to SCI's Simon Boughey about the changing landscape in the US SRT market. Kruzel discusses the opportunities for investors working with banks, why the market is taking off now after a number of false starts, what factors are attracting regional US banks to the SRT space, and more. .......

Gareth Old, derivatives- and structured-finance-focused partner at Clifford Chance, speaks to SCI's Simon Boughey about recent developments in the US SRT market. Old discusses the use of the synthetic securitisation framework in bank-issued credit-linked notes, the time frames required for deal submissions and approvals, whether future developments could remove further hurdles to issuance, and more. .......

Terry Lanson, md and portfolio manager at Seer Capital, speaks to SCI's Simon Boughey about the outlook for SRT in 2024. Lanson discusses how SRT can help banks compete amid the ongoing expansion of private credit, whether the US market is finally ready for lift-off, and what Seer looks for in an SRT partnership. .......

In the final instalment of SCI’s Basel 4 video series, ex-issuer Frank Benhamou provides a brief outline of what’s new in Basel 4 and SCI’s Kenny Wastell asks market participants about the extent to which Basel 4 is in line with expectations. .......

In the fourth instalment of SCI’s Basel 4 video series, Alantra md Holger Beyer provides a brief outline of what’s new in Basel 4 and SCI’s Kenny Wastell asks market participants why further amendments to the framework are required. .......