Risk and Rewards of CRE-CLO and CLO Securitizations: Navigating the Capital Markets
More than 100 senior executives participated in Dechert’s LA Seminar: Risk and Rewards of CRE-CLO and CLO Securitizations: Navigating the Capital Markets. The half day event, sponsored by Dechert, the CRE Finance Council (CREFC) and the Loan Syndications and Trading Association (LSTA), focused on themes important to the CLO market and the CRE securitization market. Panelists addressed market issues, structure and structural issues as well as regulatory and tax considerations.
Very senior and knowledgeable panelists from institutions including Wells Fargo Securities, Crescent Capital, Guggenheim Partners, KPMG, Latitude Real Estate Investors, TCW, and Western Asset Management Co. as well as government relations experts from both CREFC and LSTA discussed issues ranging from structural innovation, dealing with the new risk retention rules and market considerations relevant to sponsoring, issuing and investing in real estate and non-real estate CLOs.
Panel 1: CLO Session
Dechert's Sean Solis and Andrew Bloom are joined by Crescent Capital’s Matthew Miller and TCW’s Drew Sweeney to discuss the impact of the new risk retention requirements on CLO transactions.
Panel 2: CRE Securitization Market Outlook
Finance and Real Estate partners Rick Jones and Stewart McQueen discuss the principal impediments for the growth of the CRE CLO marketplace with industry leaders including: Darren Esser (Managing Director, Wells Fargo Securities, LLC); Chip Sellers (Executive Vice President, Latitude Real Estate Investors); Harris Trifon (Portfolio Manager, Western Asset Management Co.); and Peter Van Gelderen (Managing Director, Guggenheim Partners).
Panel 3: Tax and Regulatory Issues
Dechert partners John Timperio and Michael Rufkahr discuss the impact of the U.S. legislative and regulatory environment on the CMBS and CRE CLO markets with industry leaders including: Elliot Ganz (Executive Vice President & General Counsel, The Loan Syndications and Trading Association (LSTA)); Michael Hall (Partner, KPMG); and Martin Schuh (Vice President Legislative and Regulatory Policy, CRE Finance Council).