Cadwalader’s George Pelling, Nick Shiren and Martin Vojtko authored an article, “Securitisation and Fund Finance,” published in the June 2025 issue of the Journal of International Banking Law and Regulation.

The article explores the rapid growth of the subscription finance market—now estimated at nearly $1 trillion—and examines how securitisation is becoming a critical innovation to address capacity constraints faced by bank lenders.

The authors outline the fundamentals of subscription finance facilities and detail how securitisation can help banks manage regulatory capital requirements and expand lending capacity.

Read it here (subscription required).