Santander Asset Management plans SRT fund launch
EXCLUSIVE: Santander Asset Management is planning to launch a fund that will invest in significant risk transfer (SRT) transactions, according to sources familiar

PAG raises USD 1.25bn for significant risk transfers
The Hong Kong-based alternative asset manager is expecting the SRT market to grow at a 30% to 40% rate annually over the next few years

SRTs aren’t exactly a new idea

Despite superficial similarities, CLOs and SRTs don’t have much in common

Atos provides a French lesson for SRT investors

Global SRT market set for record year, according to Chorus estimates
A new update from SRT specialist Chorus Capital forecasts that 2024 will be another record-breaking year for its market with the number running around 25% ahead from last year so far

SRT market grows to EUR 18.5bn of junior tranches in 2023
Banks executed 89 synthetic securitizations for SRT globally in 2023, according to the IACPM’s latest synthetic securitization survey

Secret structured credit product becomes talk of the town as US opens up
What was once an opaque corner of structured credit has been in the spotlight, as the booming SRT market draws attention from growing numbers of banks and investors.

In September, the Fed said financial institutions could transfer risk to SPVs
The Fed’s reading of Basel 3.1 could double capital requirements — so it’s just as well it is softening on risk transfers.

Cheyne returns to SRT market with eye-catching hire
Cheyne Capital has re-entered the significant/synthetic risk transfer (SRT) market, bringing on an industry veteran to act as portfolio manager

US regulatory capital deals are increasing — and not just for big banks
US regulatory capital deals are increasing — and not just for big banks

BayernLB reveals two investors behind breakthrough €1bn SRT
Bayerische Landesbank says it has produced its first simple, transparent and standardised (STS) transaction in the form of a €1 billion SRT

Infra specialist makes first SRT investment
An affiliate of Nuveen says it has invested in an SRT for the first time

Eagle Point and Investcorp are latest CLO firms to target SRTs
CLO investors and asset managers are increasingly warming to significant risk transfers (SRTs), with Eagle Point Credit Management and Investcorp Credit Management two recent examples

UniCredit wraps up three synthetic securitisations with EIB backing
UniCredit says it has produced three synthetic securitisations which will free ithe bank up to lend over €5 billion to small and mid-sized enterprises in Italy, Germany and Bulgaria.

Alecta "closes the circle" as it invests with PGGM in Nordea SRT
Joint venture partners Alecta and PGGM Investments have printed a €2.5 billion significiant risk transfer with Nordea in what marks the first Simple, Transparent and Standardised-compliant SRT to reference pan-Nordic assets

SRT market keeps pumping deals as Greek and German banks free up capital
Dealflow in significant risk transfers is picking up, with a €2.7 billion Greek mortgage and SME lending deal and a €2.1 billion German corporate loan transaction printing in recent days

Regulators give securitisation another tranche
A gloomy economic outlook and drought in primary markets cast a deflated mood over last month’s Global ABS 2022 conference in Barcelona. But regulators and central banks’ encouraging attitude towards securitisation was in sharp contrast

A&M makes securitisation breakthrough with SRT for Polish bank
Alvarez & Marsal says it has completed its first securitisation as sole arranger after completing an SRT referencing a pool of housing community loans

Italian €1bn SRT underlines advantage over CLOs and CSOs
The European CLO market has ground to a halt for the last three weeks, but a €1 billion SRT signed this week underlines there is appetite for some securitisations

Chenavari takes three-pronged approach with new specialty finance fund
Chenavari has raised capital for a specialty finance fund, officials at the company have confimed to Creditflux. The fund, the firm’s latest vintage private credit strategy, launched in February

Man names co-heads for new SRT business
Man Group has appointed two Elanus Capital officials as co-heads of its new credit risk sharing strategy, which will sit in its $3.5 billion private market business

Infrastructure manager targets €1 billion for eclectic mix of project finance debt and SRTs
A Copenhagen-based firm is launching its first credit fund and has partnered with an SRT specialist in London for a component of its potential €1 billion offering  

Barclays seeks head of SRT risk
Barclays is looking to hire a head of SRT risk for its wholesale credit portfolio, having established a credit risk transfer programme under the Colonnade branding 

Pemberton lands big name structured credit specialist as it drives into SRTs
Pemberton has hired a senior banking figure well known to the structured credit market to oversee a risk sharing strategy at the firm