All topics

180 topics

Foundations

1. ABF vs. traditional lending (when ABF makes sense, when it doesn't)
2. The ABF ecosystem (players, roles, and how they interact)
3. How ABF works (5-minute overview)

Playbooks

1. Understanding back leverage (LP perspective)
2. Approaching banks for warehouse capital
3. Back leverage and fund financing
4. How to benchmark your deal against the market
5. Building an ABF team
6. What capital providers care about
7. Career paths in ABF
8. Choosing the right structure
9. Common mistakes and how to avoid them
10. Key counterparties for credit funds
11. Preparing your data room
12. Deal autopsy: why deals fail
13. Understanding deal fees
14. Navigating the deal process
15. Early-stage financing guide
16. Family offices as ABF capital providers
17. Financing progression roadmap
18. Finding the right capital partner
19. Evaluating a credit fund's ABF strategy
20. Government programs and DFI capital
21. Accessing insurance capital for originators
22. Structuring deals for investor appeal
23. Questions to ask your legal team
24. Your loan tape: what lenders actually look at
25. Managing legal costs
26. Managing multiple facilities
27. Negotiation strategy
28. The economics of ABF for originators (worked examples)
29. Building an originator pipeline
30. ABF as an asset class for portfolio construction
31. Ongoing portfolio management (capital provider)
32. Evaluating portfolio quality and performance
33. Raising capital for ABF strategies
34. The originator's readiness assessment
35. Selecting your law firm
36. Sourcing capital for ABF funds
37. Sourcing capital for your portfolio
38. Sourcing capital for your portfolio
39. Sourcing ABF deals
40. Sourcing deals (originator perspective)
41. Transitioning between capital providers
42. Treasury management for multi-facility originators
43. True lender / bank partnership
44. When things go wrong
45. Whole loan sale and forward flow strategies
46. Working with credit funds

Asset Classes

1. Agency RMBS
2. Aircraft leases
3. Auto loans and leases
4. BNPL receivables
5. Bridge / fix-and-flip
6. Broadly syndicated loan CLOs
7. Cell tower and data center ABS (digital infrastructure)
8. CMBS (conduit, SASB, large loan)
9. Container leases
10. CRE CLOs
11. Credit card receivables
12. Education and vocational receivables
13. Equipment leases and loans
14. Healthcare receivables
15. Home equity and helocs
16. Infrastructure debt
17. Insurance-linked securities
18. Litigation finance
19. Shipping and maritime finance
20. Marketplace lending and fintech-originated
21. Middle market CLOs
22. Music royalties and content IP
23. Non-agency RMBS / non-QM / investor-purpose
24. Personal / unsecured consumer loans
25. Pharma royalties
26. Powersports (RV, marine, motorcycle)
27. Premium finance
28. Rail cars and rolling stock
29. Revenue-based financing
30. Small business loans (including SBA 7(a))
31. Single-family rental (SFR)
32. Solar / renewable energy (PACE, PPA, solar loan)
33. Student loans (federal and private)
34. Tax liens
35. Timeshare receivables
36. Trade receivables and supply chain finance
37. Whole business securitization

Structures

1. Conduit and ABCP programs
2. Credit-linked notes / synthetic securitizations
3. Collateralized loan obligations (CLOs)
4. Forward flow agreements
5. NAV facilities and subscription lines
6. Participation structures
7. Private placement / bespoke structures
8. Rated note feeders
9. Repackaging structures
10. Significant risk transfer (SRT)
11. Subscription finance / capital call lines
12. Term securitization (ABS/MBS)
13. Warehouse facilities
14. Whole loan sales

Structural Mechanics

1. Accounts and cash management
2. Advance rates and the borrowing base
3. Advanced waterfall mechanics
4. Amortization and repayment
5. Borrowing base mechanics
6. Covenants
7. Hedging and interest rate mechanics
8. Revolving, prefunding, and reinvestment
9. Triggers, tests, and performance events
10. The waterfall

Capital Sources

1. Back leverage (provider perspective)
2. Bank balance sheet
3. Credit funds and private capital
4. Insurance capital
5. Other capital sources

Counterparties

1. Calculation agents and data agents
2. Legal counsel
3. Other counterparties
4. Rating agencies
5. Servicers and backup servicers
6. Trustees

Legal

1. Bank regulatory considerations
2. Consumer protection regulations
3. Entity types and tax considerations
4. EU/UK securitization regulations
5. Investment Company Act exemptions
6. NAIC filing and designation deep dive
7. Regulatory and compliance
8. Risk retention rules
9. Securities law exemptions
10. SPVs and bankruptcy remoteness
11. State licensing requirements
12. Tax considerations for ABF structures
13. True sale and perfection
14. Volcker Rule implications

Regulatory

1. Basel III/IV capital treatment

Documentation

1. Due diligence question bank
2. Legal opinions and third-party reports
3. Offering and disclosure documents
4. Reps, warranties, and enforcement
5. Term sheet anatomy
6. Transaction agreements

Operations & Lifecycle

1. Cash operations and waterfall execution
2. Fund accounting and administration for ABF
3. Fund compliance and regulatory for ABF
4. Fund investor reporting for ABF
5. Fund operations infrastructure for ABF
6. ABF fund operations fundamentals
7. ABF fund operations team structure
8. Pool formation and onboarding
9. Ongoing portfolio management
10. Portfolio monitoring for ABF funds
11. Ongoing reporting and surveillance
12. Servicing operations
13. Technology and infrastructure

Lifecycle Events

1. Amendments and waivers
2. Upsizing and facility expansion
3. Wind-down
4. Workouts, restructuring, and enforcement

Accounting & Valuation

1. Cash flow modeling
2. CECL and accounting considerations
3. Collateral analysis
4. Credit analysis
5. GAAP vs IFRS accounting comparison
6. Portfolio valuation
7. Pricing and relative value

Market Intelligence

1. Reading the credit cycle
2. Market data and public datasets
3. Distressed market playbook
4. ESG and sustainability-linked structures
5. Market intelligence
6. Participant directory
7. Primary market process
8. Secondary market and liquidity
9. Market spreads guide

Appendix

1. Sample term sheet (annotated)
2. Collateral analytics checklist
3. Deal timeline matrix
4. Pricing disclaimer
5. Sample waterfall

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