Feb 28, 2018
Risk retention prompted a good deal of conversation among attendees at the Structured Finance Industry Group’s “SFIG Vegas 2018” event (February 25-28). The talk this year centered not on the impact of the rule's implementation, but on its likely rollback in the CLO market and whether this will have wider ramifications for other securitization asset classes. Gregg Jubin comments.
Excerpts from “Vegas ABS Bash Draws 7,000 as Market Enjoys Boom Times,” Global Capital Euroweek, February 28, 2018:
"Everybody is looking at this and thinking, ‘does this have the legs to go beyond just CLOs?’” said Gregg Jubin, managing partner at Cadwalader's Washington, D.C. practice.
"The decision could potentially be opened up for other entities to take advantage. While people aren't yet running to create new structures designed to do this, there are a lot of structures, such as [business development companies] or credit opportunities funds that might already qualify."
Scott Cammarn, Mark Chorazak, Jonathan Watkins,Chris Gavin, Joseph Beach, Peter Morreale
Richard Brand, Stephen Fraidin, Jonathan Watkins, James Fee
Michele Maman, Thomas Curtin, Anthony De Leo, Donny Ariel
CREFC is the trade association for the commercial real estate finance industry.