RCQ's Assistant Director, Greg McGinnigle was invited to attend SFVegas from February 24th - 28th 2024. He was joined by thousands of other leaders within the and Securitisation sector.
Greg commented: "It was great to see so many familiar faces and after many back-to-back meetings and coffees, I'm looking forward to being back in the office and getting some actual work done (or at least trying to!).
Here are some of my main takeaways:
1) Overall sentiment across the board was extremely productive. While some areas are definitely more active than others (ABS & CLOs being busier, Resi and CRE markets remain quieter), there was certainly much more enthusiasm and a focus on resiliency and longer-term growth prospects for most stakeholders.
2) Asset Based Finance is going to be a significant growth area over the next few years. Private Credit no longer just means direct lending, as investors are increasingly looking to ABF as a way to diversity their credit exposure and as traditional lenders pull back from consumer & commercial lending, greater investment opportunities are appearing in private markets. With this comes a growing lists of competitors in the ABF space, which for hiring means greater opportunities and more limited talent pool, with demand for those with "private ABS" and "asset based debt" being extremely high currently.
3) Gen AI and alt data is beginning to play a much more influencing role within the origination, underwriting and securitization process. The general consensus is that AI isn't replacing us (at least yet!), but these developing technologies will continue to play a massive role in reducing manual work via automation, empower more informed and efficient investment and underwriting decisions and in the case of private credit, enable new structures to be generated".
If you would like support with any hiring needs in your team or further insight into the current state of the market, please contact me here or at greg.mcginnigle@rcqassociates.com
