Asset-Backed Finance (ABF)

A form of private credit, backed by pools of contractual assets (e.g., loans, leases, and mortgages), as opposed to individual companies. 

Unlike standard corporate lending, ABF pays back principal continuously, rather than providing a large principal repayment at maturity. 

Underlying assets in the ABF universe reflect the breadth of the global economy, ranging from aircraft leases to credit card receivables to music royalties.