Investors have been busily scouring the market for yieldy-yet-secure paper to get money out the door. To that end, U.S. Bancorp Piper Jaffray has been serving up alternative asset-backed transactions that have helped to sate investor appetite.
"The market has a strong appetite for well-structured, alternative asset class paper," said Tom Baurle, vice president in Piper's taxable originations group. According to Baurle, one investor noted that, while he was happy enough with his $30 million allocation, he still had another $600 million to put to work and chided him about getting started on the next one. "This kind of demand is obviously going to drive our focus," Baurle continued. "There's a lot of money chasing few deals, and investors are anxious to get their money to work."