Latest news with #securitization
Bloomberg
a day ago
- Business
- Bloomberg
Carlyle Sells $1.25 Billion Deal Repackaging Private Equity Fund Stakes
Carlyle AlpInvest bundled up and sold private equity fund stakes in a $1.25 billion securitization, using a complex type of deal that's grown popular with insurance companies looking to gain access to private markets. Portions of four of the Carlyle Group Inc. unit's funds, as well as a number of smaller stakes from other PE managers' buyout funds, are being bundled into a collateralized fund obligation — a deal that slices up sections of funds into bonds of varying size and risk. Carlyle AlpInvest is acquiring the collection of smaller stakes as part of the transaction, according to Mike Hacker, global head of portfolio finance at the unit.
Yahoo
3 days ago
- Business
- Yahoo
KBRA Assigns Preliminary Ratings to Aqua Finance Issuer Trust 2025-B
NEW YORK, August 05, 2025--(BUSINESS WIRE)--KBRA assigns preliminary ratings to four classes of notes issued by Aqua Finance Issuer Trust 2025-B ("Aqua 2025-B"), an asset-backed securitization collateralized by marine and recreational vehicle contracts as well as home improvement contracts. Aqua 2025-B will issue four classes of notes totaling $368.61 million, collateralized by $404.2 million receivables. Aqua 2025-B has initial credit enhancement levels ranging from 44.10% for the Class A notes to 9.30% for the Class D notes. Credit enhancement is comprised of overcollateralization, subordination of junior note classes (except for the Class D notes), a cash reserve account, and excess spread. Aqua Finance, Inc. ("Aqua" or the "Company"), founded in 1985 and incorporated in January 1988, is a consumer finance company operating in all 50 states. On July 29, 2022, Athene Holding Ltd ("Athene"), a retirement services company acquired a controlling stake in Aqua. Prior to Athene's acquisition, the Company was majority owned and controlled by a Blackstone managed fund. KBRA applied its Auto Loan ABS Global Rating Methodology, as well as its Consumer Loan ABS Global Rating Methodology, General Global Rating Methodology for Asset-Backed Securities, Global Structured Finance Counterparty Methodology and ESG Global Rating Methodology as part of its analysis of the portfolio pool data, underlying collateral pool and capital structure. KBRA considered its operational reviews of Aqua, as well as regular due diligence calls with Aqua. Operative agreements and legal opinions will be reviewed prior to closing. To access ratings and relevant documents, click here. Click here to view the report. Methodologies ABS: Auto Loan ABS Global Rating Methodology ABS: Consumer Loan ABS Global Rating Methodology ABS: General Global Rating Methodology for Asset Backed Securities Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1010711 View source version on Contacts Analytical Contacts Jacob Paulose, Associate Director (Lead Analyst)+1 Maxim Berger, Senior Director+1 Stavros Cherpelis, Analyst+1 Melvin Zhou, Managing Director (Rating Committee Chair)+1 Business Development Contact Arielle Smelkinson, Senior Director+1
Yahoo
4 days ago
- Business
- Yahoo
MMP Capital Closes Inaugural Asset-Backed Securitization with Strong Investor Backing
The successful MMP Capital 2025A securitization highlights growing investor appetite for sector-focused ABS deals. Backed by medical aesthetic loans, the transaction attracted strong institutional interest, enabled pricing advantages, and marked MMP Capital's strategic expansion into public capital markets and new asset Courtesy of MMP Capital FARMINGDALE, N.Y., Aug. 04, 2025 (GLOBE NEWSWIRE) -- MMP Capital has announced the successful closing of its inaugural Asset Backed Securitization (ABS) transaction. The offering, MMP Capital 2025A, issued $192 million in notes backed primarily by loans secured by medical aesthetic equipment contracts. Demand from the institutional investment community exceeded all expectations. The notes drew thirty-five orders from twenty-seven unique investors, and at final pricing were nine times oversubscribed. The oversubscription allowed MMP Capital to substantially tighten spreads from launch to close, indicating deep market confidence in the credit quality of the underlying assets. The senior tranche of the deal earned a Moody's rating of Aa3, signaling a strong endorsement of the structure and asset performance.'MMP Capital 2025A's overwhelming reception underscores the trust and confidence investors have in our business, our differentiated value proposition for customers and partners, and our disciplined approach to risk,' said John-Paul M. Smolenski, CEO of MMP Capital. 'This inaugural ABS marks a pivotal milestone in our strategy to expand our existing business and explore new asset classes.' The company has built a national footprint by providing flexible, high-speed financing tailored to small business needs. Its specialization in the medical aesthetic space has helped establish a consistent asset base, equipment loans with durable collateral and recurring demand that proved attractive to ABS investors. The securitization marks the company's entry into the public capital markets, providing additional liquidity to expand its financing offerings and reach more customers in established and emerging verticals. It also signals institutional recognition of the quality and performance of MMP Capital's portfolio. The strong reception reflects broader investor interest in asset-backed securities tied to high- performing, sector-specific lending platforms. With many ABS markets seeing increased selectivity amid macroeconomic uncertainty, the scale of demand for MMP Capital 2025A stands out. The company's history of underwriting discipline and loan performance helped drive favorable pricing, even as many issuers face more cautious markets. For more information, visit About MMP Capital MMP Capital was founded in 2013 with a mission to be the gold standard in healthcare equipment finance in the U.S. Led by a management team with vast experience in sales, credit, and operations from several banks, leasing companies, and funding institutions, MMP Capital is uniquely equipped as a hybrid lender to lend directly or utilize a vast syndication outlet. The company's financing options for equipment financing, leasing, and unsecured capital offer U.S. businesses the opportunity to invest in their future, update outdated technology, or offer new services to customers. Contact Information Jamie O'ConnorDirector of Marketing & BrandingMMP Capitaljoconnor@ o: (516) 308-6946 | m: (917) 902-7595 | f: (516) 400-2071 A photo accompanying this announcement is available at in to access your portfolio
Zawya
5 days ago
- Business
- Zawya
RIFD secures strategic investment from Antler to revolutionize SME Securitization in Saudi Arabia
Riyadh, Saudi Arabia – RIFD, the first Saudi-born platform enabling institutional securitization of SME trade receivables, has secured a strategic investment from global early-stage venture capital firm Antler. This milestone accelerates RIFD's mission to build the country's first Shariah-compliant securitization infrastructure—reducing SME financing costs while unlocking high-quality, risk-adjusted returns for institutional investors in an untapped asset class. This follows RIFD's recent selection by the Ministry of Communications and Information Technology (MCIT) into its prestigious Tech Champions 5 program, reinforcing its position as one of the Kingdom's most promising emerging fintech startups. 'SME credit in Saudi Arabia surpassed SAR 351.7 billion in Q4 2024, growing over 27.6% year-on-year. Yet, receivables-based financing accounts still accounts for less than 6%,' Abdulrahman Aldakheel, CEO of RIFD. 'This billion-riyal gap is a massive opportunity. At RIFD, we're building the infrastructure to unlock this capital—driving SME growth while offering institutional investors secure, Shariah-compliant exposure to real economic value. With Antler's backing, we are poised to scale our vision across Saudi Arabia and the wider region,' Abdulrahman Aldakheel, CEO of RIFD, added. Antler's investment not only validates RIFD's model globally but also brings operational expertise, strategic partnerships, and access to a world-class network of follow-on investors with a track record of scaling high-growth startups. As part of Antler's portfolio, RIFD will receive hands-on guidance as it accelerates expansion across Saudi Arabia and the MENA region. With its first pilot transaction underway, multiple institutional partnerships in progress, and strong support from Antler and the MCIT Tech Champions program, RIFD is rapidly emerging as a key player in the Kingdom's financial transformation. About RIFD RIFD is the first Saudi-born securitization platform, connecting global investors to untapped markets by transforming receivables securitization through advanced technology. The platform facilitates institutional financing for SME suppliers by securitizing receivables from large, creditworthy corporations—unlocking supply chain liquidity while maintaining a fully Shariah-compliant structure. Leveraging real-time data analytics and proprietary algorithms, RIFD ensures precise risk classification, transparent asset pooling, and customized portfolio construction.
Irish Times
01-08-2025
- Business
- Irish Times
Goldman Sachs buys key interests in over €1bn of mortgages issued by Finance Ireland
Goldman Sachs has acquired key economic interests to more than €1 billion of mortgages written by Finance Ireland before it exited the home loans market this year, according to sources. The loans were originally financed by UK investment firm M&G and are mainly packaged in so-called residential mortgage-backed securitisation (RMBS) deals, where bond investors buy the right to interest backed by income from the loans. M&G retained the equity portion and other key rights on RMBS deals, including call options that entitles it to repurchase RMBS notes before they are scheduled to mature. A sponsor behind an RMBS deal can make a profit, for example, by redeeming bonds and refinancing the loans in another transaction in an environment where market interest rates fall. The equity interest has been acquired by Goldman Sachs, the sources said. READ MORE The loans have been managed on a day-to-day basis by loan-servicing firm Pepper Advantage Ireland. This will remain the same. A spokeswoman for Goldman Sachs and spokesmen for M&G and Finance Ireland declined to comment. M&G owns about 40 per cent of Finance Ireland. A spokesman for Pepper confirmed that the firm is 'supporting the migration of a portfolio of loans from Finance Ireland to a new owner'. Pepper is taking over the loan titles from a Finance Ireland entity. 'Having serviced these loans on behalf of Finance Ireland, we are committed to maintaining the same high level of service following the transfer, ensuring a seamless experience for borrowers,' he said. 'Affected customers do not need to take any action at this time, and we remain dedicated to supporting them throughout this process.' Finance Ireland, led by chief executive Billy Kane, entered the Irish mortgage market in 2018, making it the first nonbank lender to move into home loans in the wake of the crash a decade earlier. It had been effectively out of the residential mortgage market for some time as its lending rates were high. The company also specialises in small business and agri-lending. Mr Kane, had repeatedly spoken in recent years about how mainstream banks have been 'cross-subsidising' their mortgage books with cheap deposit funding. About 86 per cent of customers' money in Irish banks is in on-demand or current accounts, which are earning little or nothing, even as they offer rates of up to 3 per cent on certain savings products. Nonbank lenders such as Finance Ireland raise their funds through the wholesale banking and bond markets, where borrowing costs soared in recent years as the European Central Bank hiked official rates. However, borrowing rates have come back sharply again, helped by the ECB cutting its main deposit rate to 2 per cent from 4 per cent over the past 13 months. The Irish Times reported in April that PTSB made an unsolicited overture late last year to buy Finance Ireland, which is 51 per cent owned by US investment management giant Pimco . While PTSB is known to remain interested in doing a deal, there is said to be a wide gap between both sides on price expectation. PTSB chief executive Eamonn Crowley reiterated on Thursday that Finance Ireland is 'a fine business', but declined to comment on the talks when asked by reporters about the matter. He was speaking at a press briefing after PTSB unveiled its results for the first half of the year.
