Securitization Outlook 2026 (February 2026)

Data center ABS may have captured vast attention but the infrastructure data centers require — in particular fiber optic cable networks — will also be a rich source of securitization activity

Forward flow deals have become increasingly popular with both buy-side and sell-side participants in the asset backed finance market. Recently, smaller lenders have started to use the arrangements as an alternative to bank financing as they ramp up their originations, reports George Smith

Layton discusses why Pearl Diver decided to enter the SRT market in late 2025, the comparison with CLOs, and how 2026 is shaping up for the CLO market with George Smith

Rising aircraft values and higher re-leasing costs caused by a supply shortage are expected to tip cash into aviation ABS and entice debut issuers in 2026. As cash runs down the waterfall, sales of equity notes tied to aviation lease ABS may return, writes Chadwick Van Estrop

Single asset, single borrower deals drove the US CMBS market in 2025, particularly on New York City collateral as office attendance rose. With interest rates predicted to fall further in 2026, market participants are looking forward to a greater variety of deals on commercial real estate from other cities and sectors, writes Pooja Sarkar

EU politicians talk enthusiastically about making the bloc more competitive, but so far, its capital markets have struggled to match the efficiency of the US. Whether it can meet the booming demand for data centres will be a defining test of its ambitions, write George Smith, Chadwick Van Estrop and Thomas Hopkins

Unparalleled European CLO market activity in 2025 compressed spreads and raised the possibility of a bigger standard for benchmark size. But, as Thomas Hopkins reports, leveraged loan market volatility will increasingly lead to tiering in the pricing different managers can achieve

The conditions are set so that 2026 promises to be even better than the already impressive 2025. A deepening of esoteric asset classes, combined with entirely new deal types, as well as more debut issuers are set to be the key themes, writes Tom Hall

Structured finance is expanding as alternative credit grows, new asset classes emerge and investors demand more targeted capital solutions. Products that were once firmly securities are moving up the capital stack, blending with hybrid equity and fund-level structures. GlobalCapital spoke with Michael Urschel, a partner in Kirkland & Ellis’ Complex Securitizations Practice Group, about what is driving the market’s rapid transformation and where securitization is headed next

The merger of Herbert Smith Freehills and Kramer Levin has created a legal heavyweight boasting over 2,600 lawyers spread across 26 offices worldwide. GlobalCapital spoke to Gilbert K.S. Liu, head of securitization in the US, and Michael Poulton, head of the firm’s London securitization practice, about the merger

In recent years, Standard Chartered has expanded its structured credit and securitized products in both emerging and developed markets — establishing a strong footprint in private securitization and asset-backed lending. Tanja Petrovic, John-Paul Parker and Amit Padhye of Standard Chartered Bank describe the challenges and opportunities ahead

Structured finance issuance rebounded in 2025, buoyed by refinancing requirements and a yield-hungry investor base. As the new year approaches, all eyes are on the trends that will create risks and opportunities over the next 12 months. GlobalCapital spoke to leading analytics and risk-technology firm Numerix about key credit dynamics, investor behaviour and the technology shaping the market

Electronic trading is evolving rapidly as market interconnection deepens and clients demand greater speed and cross-asset access. With innovation accelerating, the next challenge is turning connectivity into better liquidity and smarter execution. GlobalCapital spoke to the co-heads of international developed markets at Tradeweb, Nicola Danese and James Dale, about breaking down market silos, linking liquidity across products and the technologies set to shape the next chapter of electronic trading