ABS East

Spread premiums on esoteric ABS attract new types of investors, including those managing insurers' assets.

Enpal and M&G's move comes at a complex moment for securitizations backed by energy infrastructure and home efficiency equipment.

Overall, new 60-day-plus delinquencies totaled $2 billion, up from $1.69 billion in August, while maturity defaults accounted for half, or 51% ($1.05 billion) of new delinquencies.

The Information Management Network has announced it will proceed with its annual Fall ABS East securitization conference in Miami Beach, Fla. in December, featuring a “hybrid” in-person/virtual event format.

The growth in securitizations in the esoteric asset class has drawn in more investors seeking long-duration high yield; that, in turn, is spawning more deals from new issuers filling the demand.

CIFC once preferred investing in the equity of other managers' CLOs and selling stakes in its own deals. Risk retention has forced a change in this business model.

Cisco DeVries, the chief executive of Renew Financial, said the bills will bring much-needed stability to Property Assessed Clean Energy, which uses a property assessment to finance upgrades.

MJX CEO Hans Christensen thinks the $500 billion market lacks the heft to influence lawmakers or regulators; he says any relief from rules requiring "skin in the game" of deals will have to benefit other asset classes as well.