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Successful candidate worked at Barclays for 15 years
Blackstone is also marketing the first public CMBS since July
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The upcoming presidential election is driving a rush by securitization issuers to get deals through the pipeline before November, when sources say election uncertainty and a potential second wave of Covid-19 infections could make for a highly volatile end to 2020.
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Funding Circle underlined the strain felt by UK small and medium sized enterprises in its half year results on Thursday, as the marketplace lender swung into a loss caused by heavy writedowns of subordinated portions of its SBOLT securitizations. But the lender also achieved strong volumes in government-guaranteed loans, which it sells off balance sheet to Chenavari Investment Management.
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Restaurant franchise operator FAT Brands closed its second whole business securitization this year, taking advantage of favourable market conditions. The proceeds of the deal will be used to finance the $25m acquisition of burger dine-in Johnny Rockets.
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A subsidiary of RCI Banque has mandated Crédit Agricole and Société Générale for a €1.04bn auto ABS, the first public auto lease deal from the issuer.
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Private equity firm Cinven has mandated arrangers Bank of America along with joint leads Lloyds, Royal Bank of Canada and Société Générale for a rare insurance premium ABS deal, boasting a £1.04bn portfolio.
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Vivint Solar is back in the ABS market, preparing a new deal two months after it was announced that it would merge with rival solar finance firm Sunrun.
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Banque PSA Finance is set to pre-place most of its €692.1m Spanish Auto Loans 2020-1 deal with official institutions, with Santander arranging the transaction.
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Santander priced its €520m full-cap stack significant risk transfer (SRT) deal auto deal, Santander Consumer Spain Auto 2020-1 on Wednesday.
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More niche asset classes will make their securitization market debut in coming years as online and tech-focused companies pour into the capital markets to access new sources of financing, said ABS market participants speaking at Global ABS 2020 on Thursday.