Sounding Point

Sound Point Capital Partners With iCapital Marketplace

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星期四, 十二月 14, 2023

Professional Services, Finance, Fintech, Asset Management, Consulting, Banking, Sounding Point, NYSE, Pension, Insurance, OWL, Partnership

Sound Point Capital Management, LP ("Sound Point"), an alternative asset management firm with approximately $46 billion of assets under management, announced today they have joined iCapital’s Marketplace, a platform offering a robust suite of alternative investment solutions to financial advisors and their clients.

Key Points:

Sound Point Capital Management, LP ("Sound Point"), an alternative asset management firm with approximately $46 billion of assets under management, announced today they have joined iCapital’s Marketplace, a platform offering a robust suite of alternative investment solutions to financial advisors and their clients.
With iCapital Marketplace, asset managers may now also choose to fundraise through iCapital Marketplace and manage distribution themselves.
The integration onto iCapital Marketplace reflects Sound Points strategic commitment to expanding its alternative credit platform, particularly within the wealth channel.
Merrill Martin, Head of Independent Wealth at Sound Point expressed, “this exciting partnership will help pave the way for our institutional quality solutions to be more readily accessible to the wealth channel.”
To access the Sound Point’s Marketplace page, please click the following link: icapital.com/soundpoint
To learn more about the Sound Point Capital, please reach out to [email protected]
About Sound Point Capital Management, LP
Sound Point is an alternative asset management firm founded in 2008 with particular expertise in credit strategies.

KBRA Assigns Preliminary Ratings to GLS Auto Select Receivables Trust 2023-2

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星期三, 十月 4, 2023

Banking, Professional Services, Finance, Sounding Point, KBRA, ABS, Assured Investment Management, GLS, Securitization, Insurance, Bank, Telescopic sight

KBRA assigns preliminary ratings to six classes of notes issued by GLS Auto Select Receivables Trust 2023-2 (“GSAR 2023-2”), a near prime auto loan ABS transaction.

Key Points:

KBRA assigns preliminary ratings to six classes of notes issued by GLS Auto Select Receivables Trust 2023-2 (“GSAR 2023-2”), a near prime auto loan ABS transaction.
GSAR 2023-2 represents the second near prime term ABS securitization for Global Lending Services LLC (“GLS” or the “Company”).
The Company has also issued 24 securitizations under their GCAR program, collateralized by mostly subprime auto loans, since its inaugural issuance in 2014.
KBRA considered its operation review of GLS, as well as periodic due diligence calls with GLS.

Cresset Names Bradley Schneider Head of Private Credit

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星期三, 八月 9, 2023

University, Sounding Point, Senior, Lehman Brothers, Credit analyst, Business, BBA, Bradley, Partner, Investment, CPCF, Knowledge, Apollo Global Management, Private credit, Bank, Cresset

CHICAGO, Aug. 9, 2023 /PRNewswire/ -- Cresset announced today that it has hired Bradley Schneider as Managing Director, Head of Private Credit. Schneider, who most recently was Head of Private Credit with Midwest Holding, brings more than 20 years of experience focused on private and alternative credit investing. In his role with Cresset, he will be responsible for the strategic leadership and expansion of Cresset's holistic private credit program, including Cresset's flagship private credit vehicle (CPCF).

Key Points:

CHICAGO, Aug. 9, 2023 /PRNewswire/ -- Cresset announced today that it has hired Bradley Schneider as Managing Director, Head of Private Credit.
Schneider, who most recently was Head of Private Credit with Midwest Holding, brings more than 20 years of experience focused on private and alternative credit investing.
In his role with Cresset, he will be responsible for the strategic leadership and expansion of Cresset's holistic private credit program, including Cresset's flagship private credit vehicle (CPCF).
"Bradley brings exactly the depth of experience in private credit that is needed in this dynamic market and economic environment.

KBRA Assigns Preliminary Ratings to GLS Auto Receivables Issuer Trust 2023-3

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星期三, 八月 2, 2023

Professional Services, Finance, Sounding Point, KBRA, ABS, Car, Assured Investment Management, GLS, Security (finance), Telescopic sight

KBRA assigns preliminary ratings to six classes of notes issued by GLS Auto Receivables Issuer Trust 2023-3 (“GCAR 2023-3”), an auto loan ABS transaction.

Key Points:

KBRA assigns preliminary ratings to six classes of notes issued by GLS Auto Receivables Issuer Trust 2023-3 (“GCAR 2023-3”), an auto loan ABS transaction.
GCAR 2023-3 represents the third term ABS securitization for Global Lending Services, LLC (“GLS” or the “Company”) in 2023 and the 24th overall.
GLS is an auto finance company founded in 2011 and is majority-owned by funds managed by Sound Point Capital Management, L.P. (“Sound Point”), an alternative asset manager.
KBRA considered its operation review of GLS, as well as periodic due diligence calls with GLS.

S&P Affirms Assured Guaranty’s AA Financial Strength Ratings with Stable Outlook

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星期一, 七月 24, 2023

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) announced today that S&P Global Ratings (S&P) has affirmed the AA financial strength ratings on U.S. bond insurers Assured Guaranty Municipal Corp. (AGM) and Assured Guaranty Corp. (AGC); U.K. financial guarantor Assured Guaranty UK Limited (AGUK) and European financial guarantor Assured Guaranty (Europe) SA (AGE); and Bermuda insurers Assured Guaranty Re Ltd. (AGRe) and Assured Guaranty Re Overseas Ltd. (AGRO).

Key Points:

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) announced today that S&P Global Ratings (S&P) has affirmed the AA financial strength ratings on U.S. bond insurers Assured Guaranty Municipal Corp. (AGM) and Assured Guaranty Corp. (AGC); U.K. financial guarantor Assured Guaranty UK Limited (AGUK) and European financial guarantor Assured Guaranty (Europe) SA (AGE); and Bermuda insurers Assured Guaranty Re Ltd. (AGRe) and Assured Guaranty Re Overseas Ltd. (AGRO).
The outlooks of all the Assured Guaranty entities are stable.
Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements.
Readers are cautioned not to place undue reliance on these forward-looking statements, which are made as of July 24, 2023.

Assured Guaranty Sells Full Stake in Assured Healthcare Partners

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星期六, 七月 22, 2023

Professional Services, Health, Insurance, Health Insurance, Finance, Asset Management, Sounding Point, AHP, Sale, Assured Investment Management, NYSE, Bank, Sound

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) announced today that it has transferred the ownership of its entire equity interest in Assured Healthcare Partners LLC (AHP) to an entity owned and controlled by its Founder, Jim Pieri, who has acted as the Managing Partner and Chief Investment Officer of AHP since its formation as an independent healthcare-focused investment manager.

Key Points:

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) announced today that it has transferred the ownership of its entire equity interest in Assured Healthcare Partners LLC (AHP) to an entity owned and controlled by its Founder, Jim Pieri, who has acted as the Managing Partner and Chief Investment Officer of AHP since its formation as an independent healthcare-focused investment manager.
Earlier this month, Assured Guaranty combined its asset management business, Assured Investment Management LLC (AssuredIM), with Sound Point Capital Management, LP (Sound Point), and Sound Point became the sole alternative credit manager of the Assured Guaranty US insurance companies.
Assured Guaranty received a 30% ownership interest in Sound Point’s combined business.
He continued, “Under the AHP transaction, Assured Guaranty will remain a strategic investor in certain AHP-managed funds while retaining its carried interest in existing AHP-managed funds and will receive other consideration.

Assured Guaranty Completes Business Combination of Asset Management Business with Sound Point Capital Management

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星期一, 七月 3, 2023

Finance, Professional Services, Other Professional Services, Asset Management, Insurance, Sounding Point, CLO, AHP, Investment, Assured Investment Management, NYSE, Life insurance, Bank, Sound, Assurance

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) today announced the completion of the combination of substantially all of Assured Guaranty’s asset management business (other than Assured Healthcare Partners LLC (AHP)) with Sound Point Capital Management, L.P. (Sound Point).

Key Points:

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) today announced the completion of the combination of substantially all of Assured Guaranty’s asset management business (other than Assured Healthcare Partners LLC (AHP)) with Sound Point Capital Management, L.P. (Sound Point).
As part of the transaction, Assured Guaranty has contributed its entire equity interest in Assured Investment Management LLC and, with certain AHP-related exceptions, its related asset management entities (collectively, AssuredIM) to Sound Point, effective July 1, 2023.
In addition, the investment agreement under which U.S. insurers Assured Guaranty Municipal Corp. and Assured Guaranty Corp. engaged Sound Point as their sole alternative credit manager to invest $1 billion over time in alternative credit strategies managed by Sound Point, is now effective; this amount includes the approximately $400 million that was previously managed by AssuredIM.
Assured Guaranty received a 30% ownership interest in Sound Point’s combined business, subject to potential post-closing adjustments.

Sound Point Names Gunther Stein Chief Investment Officer for U.S. Performing Credit and CLOs

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星期四, 五月 18, 2023

Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce it has hired Gunther Stein to become Head and Chief Investment Officer (CIO) of its U.S.

Key Points:

Sound Point Capital Management, LP, a credit-oriented investment manager overseeing approximately $32 billion in total assets, is pleased to announce it has hired Gunther Stein to become Head and Chief Investment Officer (CIO) of its U.S.
“The addition of Gunther as Head and CIO of our U.S. performing credit platform is a major win for our franchise,” said Stephen Ketchum, Sound Point’s Managing Partner and CEO.
“I’m thrilled to be joining Sound Point at such a pivotal time in its growth trajectory,” said Stein.
In time, under Mr. Stein’s leadership, Sound Point expects to launch new initiatives in the performing credit space.

Sound Point Capital to Acquire Assured Investment Management, and Receive $1 Billion Investment Commitment From Assured Guaranty

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星期三, 四月 5, 2023

In connection with the strategic partnership, Assured Guaranty will become a significant equityholder of Sound Point and certain of Assured Guaranty’s U.S. insurance subsidiaries will commit to invest $1 billion over time in Sound Point managed vehicles and separately managed accounts.

Key Points:

In connection with the strategic partnership, Assured Guaranty will become a significant equityholder of Sound Point and certain of Assured Guaranty’s U.S. insurance subsidiaries will commit to invest $1 billion over time in Sound Point managed vehicles and separately managed accounts.
Sound Point will become the sole alternative credit manager for the Assured Guaranty U.S. insurance subsidiaries.
“It’s our largest transaction to date, and we’re extremely proud to be receiving a one-billion-dollar investment commitment over time from Assured Guaranty.
“Assured Guaranty’s investment commitment will be allocated to Sound Point managed CLOs as well as a range of other credit strategies”.

Assured Guaranty’s Asset Management Business to Combine with Sound Point Capital Management

Retrieved on:

星期三, 四月 5, 2023

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) today announced an agreement with Sound Point Capital Management, L.P. (Sound Point) pursuant to which Assured Guaranty will contribute its entire equity interest in Assured Investment Management LLC and, with certain exceptions, its related asset management entities (collectively, AssuredIM) to Sound Point.

Key Points:

Assured Guaranty Ltd. (NYSE:AGO) (together with its subsidiaries, Assured Guaranty) today announced an agreement with Sound Point Capital Management, L.P. (Sound Point) pursuant to which Assured Guaranty will contribute its entire equity interest in Assured Investment Management LLC and, with certain exceptions, its related asset management entities (collectively, AssuredIM) to Sound Point.
Assured Guaranty, the global leader in financial guaranty insurance, acquired AssuredIM (formerly BlueMountain Capital Management, LLC) in October 2019.
“We expect this transaction to significantly benefit both Assured Guaranty and Sound Point and to be accretive to Assured Guaranty’s shareholders.
Assured Healthcare Partners LLC will remain an independent healthcare investment management firm and is not part of the Sound Point transaction.