16 Oct 2025

A&O Shearman Assists Major Private Credit Manager in €4.8 Billion Synthetic SRT Transactions for European Infrastructure Projects

"A&O Shearman has assisted a major private credit manager in investing approximately €4.8 billion in two significant risk transfer synthetic securitization transactions related to project and infrastructure financing portfolios. The underlying exposures involve projects across several European countries, including Italy, Luxembourg, Germany, and Spain. The asset manager's funds mitigated credit risk by subscribing to junior tranche shares. The A&O Shearman team was led by partners Pietro Bellone and Parya Badie, with support from several senior associates and additional legal counsel on U.S. law and tax matters."

A&O Shearman assisted a leading private credit manager in its investment in two significant risk transfer (SRT) synthetic securitization transactions related to project and infrastructure financing portfolios, with a total value of approximately €4.8 billion. The underlying exposures pertain to projects and infrastructure located in various European countries, including Italy, Luxembourg, Germany, and Spain. The funds managed by the asset manager provided credit risk protection by subscribing to a portion of the junior tranches. The A&O Shearman team was led by partners Pietro Bellone and Parya Badie, with support from senior associates Giovanni Chiarli, Eric Denton, Robert Simmons, Martina Gullino, and Chiara D’Andolfo. Partner James Bryson provided advice on U.S. law aspects, while counsel Elia Ferdinando Clarizia handled tax-related matters.
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