Mindful Wealth, an investment firm based in Singapore, is raising money to put to work in some of the riskier tranches of U.S. collateralized loan obligations, those rated BBB and B.
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Only 9.6% of €1.08 billion of collateral meets the criteria for responsible lending and borrowing set by the National Institute for Family Finance in the Netherlands, down from 22.9% for the prior deal.
August 30
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Weilamann was previously managing director and head of U.S. ABS at the credit rating agency; he assumes his new role as Luis Reyna returns to academia.
August 30
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The $408.4M Anchorage Capital CLO 2018-10 adds to the $5.2B-asset manager's 2018 tally of three re-issues and a refinancing — not to mention a debut European CLO.
August 29
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The LendingClub founder responded to being booted from his company by starting a new one with involvement from former investors — and a loan buyer he had supposedly wronged.
August 29
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The initial collateral for Tower Bridge Funding No. 3 consists of 1,737 loans totaling £375.5 million, and there will be a £125 million prefunding account that can be used to acquire additional collateral before the first interest payment date.
August 29
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The percentage of CCC "buckets" in CLOs increased in the second quarter and they are now at levels similar to 2016, when managers struggled with concentrations of troubled energy-sector assets.
August 28
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The first two transactions were initiated in March, just a few days before skin-in-the-game rules were lifted for this asset class; this time, the CLO manager is not exactly sticking its neck out.
August 28
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Jeff Weinstein and Patrick Lampe join from the Chicago office of Sidley Austin; Morgan Lewis partner Philip Russell is relocating from the firm’s New York office.
August 28 -
Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”
August 27
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The Congressional Budget Office has found that restructuring the mortgage market would save the government billions of dollars but may increase the cost of housing.
August 27
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S&P says extended term loans and "liberal" collection policies are pushing losses and amortization toward the tail end of some lenders' securitizations — making cross-comparing performance between lenders and an issuer's own outstanding vintage deals more difficult.
August 26
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DFG Investment Advisers, led by former Goldman and HVB Group veterans, will exceed $4.2B in CLO assets under management with the latest deal.
August 26
