Securitization

Zachary Jacobs Joins Kramer Levin as Partner in Private Equity Practice

Retrieved on:

Monday, February 6, 2023

Legal, Professional Services, Columbia University School of Nursing, Cornell University, Multimedia, Oliver Cromwell, Corporation, Investment management, Columbia Law School, Private equity, Sullivan, Special, Bankruptcy, Securitization, Sullivan & Cromwell, Architecture, Financial services

Zachary Jacobs has joined Kramer Levin’s New York office as a partner in the firm’s Private Equity practice.

Key Points:

Zachary Jacobs has joined Kramer Levin’s New York office as a partner in the firm’s Private Equity practice.
“Among our destination practices, private equity is a cornerstone,” said Kramer Levin co-managing partners Paul H. Schoeman and Howard T. Spilko.
“He is a great addition to our team.”
“I am excited to join Kramer Levin’s highly regarded Private Equity team,” said Mr. Jacobs.
“I look forward to contributing to the firm’s proactive, pragmatic and creative client-centered approach.”
Mr. Jacobs joins Kramer Levin from Morrison Cohen, where he was a partner.

Scott Welkis Joins Kramer Levin as Partner in the Banking and Finance Group and Chair of Special Situations Practice

Retrieved on:

Monday, February 6, 2023

Finance, Consulting, Banking, Professional Services, Legal, Islamic banking and finance, Trinity College, Fordham University School of Law, Multimedia, Corporation, Investment management, Environment, Special, Bankruptcy, Law, Securitization, Financial services, Nursing

Scott Welkis has joined Kramer Levin’s New York office as a partner in the Banking and Finance group of the Corporate department and chair of the firm’s Special Situations practice.

Key Points:

Scott Welkis has joined Kramer Levin’s New York office as a partner in the Banking and Finance group of the Corporate department and chair of the firm’s Special Situations practice.
View the full release here: https://www.businesswire.com/news/home/20230206005413/en/
Mr. Welkis has extensive experience handling a wide variety of debt financing transactions.
He has successfully guided many clients involved in special situations and distressed financing transactions, including out-of-court and in-court restructurings.
“Kramer Levin’s broad platform and entrepreneurial culture provide an ideal environment in which to continue to grow my practice,” Mr. Welkis said.

Achieve Announces the Close of Two, AAA-Rated Consumer Loan Securitizations

Retrieved on:

Thursday, February 2, 2023

Uncertainty, CE, Jefferies, DBRS, SEC Rule 144A, ABS, ACHM, HELOC, Cross River Bank, BBB, Trust, Sale, Securitization, FCCF, Risk, Class, Jules Kroll, FreedomPlus, Credit Suisse, Person, SAN, Regulation, AAA, Employment, KBRA, Bank, Security (finance), Credit, AA

SAN MATEO, Calif., Feb. 2, 2023 /PRNewswire/ -- Achieve, the leader in digital personal finance, announces the close of two AAA-rated securitizations — one offering of $244.8 million in notes backed by Achieve Personal Loans; and a second offering of notes backed by approximately $152.7 million in newly originated home equity lines of credit (HELOCs). Both securitizations closed on January 31, 2023.

Key Points:

The personal loan securitization, ACHV ABS Trust 2023-1PL, consists of four classes of rated notes backed by 15,788 unsecured consumer personal loans.
It is the 15th personal loan securitization by Freedom Consumer Credit Fund (FCCF), an investment fund managed by Freedom Financial Asset Management (FFAM), an Achieve company.
The underlying Achieve Personal Loans in the securitization were originated by bank partners Cross River Bank and Pathward, N.A.
Issuances across all FCCF-sponsored securitizations now total over $4.6 billion and total loan originations through the FFAM platform and Achieve Home Loans exceeds $8 billion.

Hamilton Lane's $2.1 Billion Flagship Direct Equity Fund Now Available for Investment on Securitize

Retrieved on:

Tuesday, January 31, 2023

NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Individual investors can now access Hamilton Lane's flagship direct equity fund, Equity Opportunities Fund V ("the Fund") through a new Securitize feeder fund tokenized on Polygon. Leading private markets investment firm Hamilton Lane (NASDAQ: HLNE) recently closed the Fund on nearly $2.1 billion of investor commitments, and is making a portion of the vehicle accessible via a feeder fund on a secondary basis to individual investors. The new tokenized fund will significantly increase access to this historically high-performing asset class, with minimum investments reduced from an average of $5 million traditionally to $20,000.

Key Points:

New Securitize Fund Requires Minimum Investment of $20,000, Down from ~$5 Million, Tokenized Exclusively on Polygon
NEW YORK, Jan. 31, 2023 /PRNewswire/ -- Individual investors can now access Hamilton Lane's flagship direct equity fund, Equity Opportunities Fund V ("the Fund") through a new Securitize feeder fund tokenized on Polygon.
Individual investors can now access Hamilton Lane's closed $2.1B Equity Opportunities private equity fund on Securitize.
Including this Fund, Hamilton Lane's direct equity platform has raised approximately $3.7 billion since the outset of the fundraise.
All Private Equity – Hamilton Lane's definition of "All Private Equity" includes all buyout, venture capital, and growth equity funds.

Oxbridge Re Announces Its New Subsidiary SurancePlus: To Issue Tokenized Reinsurance Securities

Retrieved on:

Tuesday, January 31, 2023

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SurancePlus, incorporated in the British Virgin Islands (BVI) in December 2022, will issue tokenized reinsurance securities that indirectly represent fractionalized interests in reinsurance contracts.

Key Points:

SurancePlus, incorporated in the British Virgin Islands (BVI) in December 2022, will issue tokenized reinsurance securities that indirectly represent fractionalized interests in reinsurance contracts.
These contracts will be underwritten by Oxbridge Re’s reinsurance subsidiary, Oxbridge Re NS.
In a profitable year, SurancePlus anticipates token holders could receive an annualized return of up to ~20% to ~40%.
SurancePlus has partnered with Securitize LLC, an SEC-registered transfer agent, to implement these tokenized reinsurance securities on its Securitize.io platform.

Yasho Lahiri Joins Kramer Levin as Partner in Fund Formation Practice

Retrieved on:

Thursday, January 12, 2023

Finance, Banking, Professional Services, Legal, Asset Management, Yasho Brahma Shah, Climate change, Securitization, Investment management, Private equity, Islamic banking and finance, Multimedia, Fordham University School of Law, Derivative, Law, Financial services, Insurance

Yasho Lahiri has joined Kramer Levin as a partner in the firm’s New York office.

Key Points:

Yasho Lahiri has joined Kramer Levin as a partner in the firm’s New York office.
He will practice in the Investment Management group, broadening its private fund formation practice.
“We are confident that Yasho will provide significant value to a broad range of fund sponsor clients.”
“I am excited to join Kramer Levin,” said Mr. Lahiri.
“The firm’s broad and growing practice representing sponsors of private equity, credit and other funds represents an exciting platform on which to continue growing my fund formation practice.”
Mr. Lahiri earned his J.D.

SSR and SECR added to ISRB tool

Retrieved on:

Friday, January 27, 2023

Securitization, Television

Image /publications-and-data/interactive-single-rulebook ISRB: Short Selling and Securitisation Regulations 1 Place Multiple row

Key Points:

Image /publications-and-data/interactive-single-rulebook ISRB: Short Selling and Securitisation Regulations 1 Place Multiple row

Sunrun Closes $835 Million Non-Recourse Financings to Support Continued Growth

Retrieved on:

Thursday, January 5, 2023

The Senior Credit Facilities consist of a $575 million amortizing loan (the “Senior Loan”) and a $25 million debt service reserve letter of credit (“DSR LC”).

Key Points:

The Senior Credit Facilities consist of a $575 million amortizing loan (the “Senior Loan”) and a $25 million debt service reserve letter of credit (“DSR LC”).
Sunrun also closed an additional non-recourse subordinated financing, which is secured by Sunrun’s retained equity interest in the underlying collateral supporting the Senior Credit Facilities.
“I am pleased with the resiliency in both our senior and subordinated non-recourse cost of capital.
Concurrent with closing the Senior Credit Facilities, Sunrun raised a $235 million non-recourse subordinated financing, which increased the cumulative advance rate obtained by Sunrun.

EnviroGold Announces Commencement of Pilot Program on Hellyer Tailings with ALS Perth, and Shares for Debt Transaction

Retrieved on:

Tuesday, January 3, 2023

Debt settlement, Economics, Copper, MI, News, Creditor, Press release, CSE, Securitization, National instrument, Multilateral, Engineering, Clean technology, Sale, Security (finance), Hellyer, Share (finance)

Results of Phase 1 are expected in early Q1 2023 and will be a key milestone to deploying a full-scale pilot program as a precursor to plant engineering and construction at Hellyer.

Key Points:

Results of Phase 1 are expected in early Q1 2023 and will be a key milestone to deploying a full-scale pilot program as a precursor to plant engineering and construction at Hellyer.
More details and economics on the Hellyer Project can be found here: Link to Press Release .
The Program is intended to optimize the Process’ effectiveness and efficiency through bench scale and larger-scale pilot plant optimization.
The Program will establish the maximum metal extraction achievable from tailings, producing precious metals doré, copper and zinc products, and confirm baseline reagent requirements.

Kingsoft Cloud Announces Results of Extraordinary General Meeting Following Proposed Dual Primary Listing on Hong Kong Stock Exchange and New Board Appointment

Retrieved on:

Thursday, December 29, 2022

Earlier on December 23, 2022, the Company announced the proposed dual primary listing of its ordinary shares, par value US$0.001 per share by way of introduction on the Main Board of The Stock Exchange of Hong Kong Limited.

Key Points:

Earlier on December 23, 2022, the Company announced the proposed dual primary listing of its ordinary shares, par value US$0.001 per share by way of introduction on the Main Board of The Stock Exchange of Hong Kong Limited.
He, in his new roles, will be a valuable asset for the Board and drive the Company’s long-term growth.
Statements that are not historical facts, including but not limited to statements about Kingsoft Cloud’s beliefs and expectations, are forward-looking statements.
Further information regarding these and other risks is included in Kingsoft Cloud’s filings with the SEC.