SCI In Conversation

In this episode of SCI In Conversation, SRT editor Selvaggia Cataldi speaks to Edmund Parker, partner and global head of derivatives & structured products at Mayer Brown, about how the SRT market has evolved from a niche capital management tool into an established part of banks' strategies. They discuss the key regulatory milestones, the growth of repeat programmes and the broadening investor base...

In this episode of SCI in Conversation, US editor Simon Boughey chats to Andre Hakkak, ceo and co-founder of New York-based White Oak Global Advisors, a private credit firm catering to SMEs. Andre talks about the differences - if any - between ABF and ABS, the continuing allure of diversification, and the growing role of insurer capital. Producer: Jacob Chilvers

In this episode of SCI In Conversation, Kenny Wastell speaks to Risk Control managing director, William Perraudin, about the emergence of securitisations backed by multilateral development bank (MDB) loans. Perraudin discusses the launch of a recent consultation on the subject, which is being undertaken on behalf of the UK and Swiss governments. He also outlines the motivations and obstacles for M...

In this episode of SCI In Conversation, SCI senior reporter Camilla Vitanza sits down with BlackRock's head of ABS, Kate Galustian, to discuss the firm's Global Securitized Fund. Galustian outlines the outlook for securitised markets, where the team is finding value across structured credit, and why active security selection remains a key driver of performance in today's market. Producer: Kenny Wa...

In this episode of SCI In Conversation, SCI's SRT Editor Selvaggia Cataldi speaks with Barend van Drooge, head of credit risk sharing at PGGM, as the firm marks 20 years in the risk sharing market. They discuss the evolution of the SRT market, what has driven PGGM's success in an increasingly competitive landscape, the future of risk sharing, and how investor expectations are shaping the next gene...

In this episode of SCI In Conversation, Jair Martinez, cco at Finacity, joins lead reporter Marina Torres to discuss the growth of digital platforms in ABF and trade receivables. Martinez discusses the rapid evolution of digital platforms in the ABF space, the real concerns surrounding blockchain-backed financing and how the industry is navigating the balance between data-driven transparency and e...

In this episode of SCI In Conversation, Derek Dubois , md and treasurer of Deerpath Capital , joins SCI US editor Simon Boughey, to discuss low to middle market CLOs. Private credit manager Deerpath has US$9bn under management, and for almost two decades has funded senior, cash-flow based lending to sponsor-backed firms valued between US$50m and US$250m , chiefly through the CLO market. Dubois dis...

In this episode of SCI In Conversation, ABF Editor Jacob Chilvers speaks with Fasanara Capital founder and ceo Francesco Filia about the firm's machine learning underwriting model. He reflects on the decision to build it in-house and the benefits it can provide at a time when traditional models are under increasing pressure.

In this episode of SCI in Conversation, ABF senior reporter Marina Torres speaks to Gregor Burkart, svp in asset financing at Enpal, about building Europe's first residential solar ABS programme in Germany. He explains why distributed home energy systems are becoming as much a national security story as a green one, and outlines Enpal's journey from a private warehouse to public markets.   Produce...

In this episode of SCI in Conversation, ABF associate editor Jacob Chilvers speaks to Alex Branton, founder of Nodem Capital, about the firm's NAV lending strategy. He reflects on the transition of the strategy into a mainstream financing tool and explores where the origination opportunities are in today's market. Produced by Kenny Wastell  

In this episode of SCI in Conversation, SRT reporter Dina Zelaya speaks to Ralf Loewe, managing director and head of treasury at Aareal Bank, about the bank's current SRT strategy. He reflects on Aareal Bank's first SRT deal last year and outlines the bank's forward-looking plans for its balance sheet de-risking toolkit. Ralf also offers an overview of the current CRE landscape, a key focus area f...

In this episode of SCI in Conversation, US editor Simon Boughey speaks to Yerbol Orynbayev, an independent consultant for financial and tech firms and also former deputy Prime Minister of Kazakhstan. Recorded in December, Orynbayev talks about what he sees as the dangers of relaxing bank stress tests by the Federal Reserve at a moment of increasing global financial uncertainty, and also the possib...

In this episode of SCI in Conversation, US editor Simon Boughey speaks to Neal Wilson, co-ceo, co-cio and joint founder of EJF Capital. EJF is an investment manager headquartered outside Washington DC, which in the last couple of years has made a name for itself as the best friend of smaller US regional banks taking their first steps in the SRT market. Neal talks about this role, and also offers a...

In this episode of SCI in Conversation, US editor Simon Boughey speaks to Jeremy Hermant, senior advisor at Alantra, about the changing face of the SRT market. He talks about his experience at Allica, when he structured the bank's first ever SRT deal, and how that stood him in good stead for his role at Alantra. Jeremy also offers a rebuff to the some of the most recent attacks on the SRT market m...

In this episode of SCI In Conversation, Pietro Bellone, structured finance and securitisation partner at A&O Shearman, joins SCI's Nadezhda Bratanova to discuss current SRT trends such as the role of infrastructure and project finance assets in synthetic deals, and how these are expanding the scope of uniquely positioned Italian markets. 

In this episode of SCI In Conversation, Jennifer Marques, head of strategy and structuring for Oaktree's structured credit strategy, sits down with SCI's ABF editor Marta Canini to discuss why unrated, downside-protected ABF is particularly compelling in today's evolving credit markets. Marques explains how Oaktree balances risk and return through deep asset and originator analysis, and how flexib...

In this episode of SCI In Conversation, CJ Wei, md at Northleaf Capital Partners, sits down with SCI's ABF editor Marta Canini to discuss how the firm is approaching esoteric and uncorrelated asset classes, from music royalties and litigation finance to other under-the-radar opportunities. Wei also explains why esoteric does not have to mean exotic, how structural complexity can create real opport...

In this episode of SCI In Conversation, Christophe Fritsch, global head of alternative credit at AXA IM Alts, speaks with associate editor Marta Canini about the firm's new diversified evergreen private credit strategy. Fritsch also discusses rising institutional and retail demand, the impact of ELTIF 2.0, sourcing in a crowded market, and why 2025 could be a defining year for ABF. We recorded thi...

In this episode of SCI In Conversation, Scott Frame, senior vice president and deputy head of research, at the Bank Policy Institute in Washington DC, talks to US editor Simon Boughey about how post-GFC regulation capped growth in the securitisation market and what types of beneficial changes might emanate from the current administration. 

In this episode of SCI In Conversation, ABS markets editor Selvaggia Cataldi speaks with Darrell Purcell, director of EMEA structured finance at S&P Global Ratings, about how securitisation is being used to fund digital infrastructure assets such as data centres and fibre networks. They explore how these deals differ from traditional ABS, what rating agencies look for and the unique risks and oppo...

In this episode of SCI In Conversation, Simon Boughey, US editor, talks to Ujjaval Desai, head of structured products investing at Sound Point Capital. Ujjaval invests in the equity and mezz tranches of the CLO market, and here he talks about where he sees value currently, and what yield targets he aims to hit. [Guest disclaimer]: This information is being provided for informational purposes only...

In this episode of the SCI In Conversation podcast, SCI associate editor Marta Canini speaks to Stephen Usher, md on the investment credit team at BC Partners, about the evolution of private credit. Usher discusses growing opportunities in specialty finance and asset-backed lending, and how these trends align with BC Partners' long-term growth strategy. He also shares his insights on the firm's st...

In the second part of this episode of the  SCI In Conversation  podcast, SCI's Selvaggia Cataldi continues her discussion about Israel's securitisation market with Moty Citrin, head of financial institutions and structured finance at Moody's subsidiary Midroog, and independent senior securitisation consultant Jason Smilovitz .  Citrin and Smilovitz discuss investor sentiment, market liquidity, sov...

In this episode of the  SCI In Conversation  podcast, SCI's Selvaggia Cataldi speaks to Moty Citrin, Head of Financial Institutions and Structured Finance at Moody's subsidiary, Midroog, and independent senior securitisation consultant Jason Smilovitz about the evolution of Israel's securitisation market. In light of a new law aligning the country with global standards, Citrin and Smilovitz discus...

In this episode of the SCI In Conversation podcast, SCI's Selvaggia Cataldi speaks to Gregor Burkart, leader of the refinancing division at Enpal, about the company's recent milestone in Europe's renewable energy sector. Burkart shares insights into Enpal's first residential solar securitisation program, which raised €240m, and discusses the company's strategy, innovative financing methods, and th...