Seth Eaton Discusses Modifications and Workouts of Commercial Real Estate Loans during the COVID-19 Pandemic
Europe's leveraged finance markets have given issuers sufficient space to navigate macroeconomic headwinds and prepare for an increase in deals in 2026. Through periods of uncertainty, the system has slowed but not...more
In an improving but still challenged M&A market, private equity sponsors are taking advantage of increasingly flexible leveraged lending markets to negotiate lower borrowing costs and create bespoke deal structures. ...more
Exchange-traded funds (ETFs) are a popular investment tool for investors, providing market access to a diverse set of industries and asset classes through a liquid investment strategy. While private credit markets have...more
As institutional demand for exposure to private markets continues to accelerate, rated feeder funds have emerged as a compelling solution to bridge the gap between alternative asset strategies and credit-sensitive investor...more
Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. Very soon leaves will be falling along with, many think, interest rates. What will autumn bring for the...more
Two recent SEC enforcement actions illustrate how participating in ad hoc creditor groups can expose lenders to material nonpublic information (MNPI), thereby creating risks in trading. Loan market participants should avoid...more
The National Association of Insurance Commissioners (NAIC) held its 2025 Summer National Meeting from August 10 – 14 in Minneapolis, Minnesota, where “Minnesota Nice” was on full display, even by the protestors who...more
Special purpose vehicles (SPVs) are commonly employed as a structuring tool in many cross-border and structured finance transactions, and collateralised loan obligation (CLO) transactions are no exception. The Cayman Islands...more
In this alert, we present the key lessons to be learned from the U.S. Securities and Exchange Commission’s (the SEC) settlement with Sound Point Capital Management, LP (Sound Point), and discuss whether a similar enforcement...more
The final report by the Financial Stability Board (FSB) on its evaluation of the effects of the G20 Financial Regulatory Reforms on Securitization was published on January 22, 2025. The report focuses on the International...more
Collateralized loan obligations (CLOs) are securitization vehicles that have traditionally been backed by pools of “bank loans”—senior-secured corporate loans with floating rate coupons. CLOs generally comprise a diverse pool...more
On August 26, 2024, it was not the first time the SEC settled charges with a Registered Investment Adviser (RIA) for willfully violating Section 204A of the Investment Advisers Act (204A) by failing to establish, maintain and...more
Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The SEC’s case against crypto firm Kraken is permitted to...more
In a significant enforcement action, the SEC sanctioned a private fund manager for failing to establish and maintain adequate policies and procedures to prevent the misuse of material nonpublic information (MNPI) while...more
Who may be interested: Investment Advisers; Compliance Staff - Quick Take: The SEC announced that it had settled charges against a registered investment adviser (Adviser) for failing to establish, maintain, and enforce...more
On August 26, 2024, the Securities and Exchange Commission (SEC) announced a settlement with a registered investment adviser (RIA) for failing to establish, maintain and enforce adequate written policies and procedures...more
On August 26, 2024, the Securities and Exchange Commission (SEC) announced an order against a registered investment adviser, Sound Point Capital Management, LP, for its failure to “establish, maintain, and enforce written...more
The first half of 2024 has been a bumper year for European Collateralized Loan Obligations and a mix of market and legislative catalysts could push the second half into record-breaking territory The European Collateralized...more
If you are confused about the current state of play of insurance companies investing in CLOs, rated feeder structures and other NAV based loans, we are here to help. Let’s start with the basics: the National Association of...more
This article describes the current challenges in developing a European MM CLO market, and how asset managers may overcome them. Originally published in Butterworths Journal of International Banking and Financial Law -...more
Pension risk transfers (“PRTs”) continue to make the news. And well they should. Last year alone, over $100 billion in liabilities were transferred from defined benefit pension plans to insurance companies. And the trend...more
As we begin to reflate the CRE CLO business this year with shrinking spreads and hopefully shrinking SOFR, we need to think of this as CRE CLO 3.0. This business, this technology, which is truly a brilliant way to deliver...more
As 2023 draws to a close we are taking a moment to recap on some of the headline events that have occurred in the aviation industry during the last 12 months:... 1. A New Aviation CLO Issuance- Alternative Aviation lender...more
In this article the authors consider the benefits of private portfolio financings in light of challenging conditions for CLO issuance. Originally published in Butterworths Journal of International Banking and Financial Law...more
On October 25, 2023, the Financial Condition (E) Committee (the “E Committee”) of the National Association of Insurance Commissioners (“NAIC”) adopted revisions to the Property and Casualty Insurance Guaranty Association...more