The private asset-based finance (ABF) corner of the credit market has rapidly expanded as institutional investors seek to diversify their predominately corporate credit portfolios by investing in assets backed by contractual cashflows and strong covenants that also offer additional yield and spread over comparably rated assets. Amid an uncertain economic backdrop and regulations changing these assets are financed, Edwin Wilches, PGIM Fixed Income co-head of securitized products, spoke about the diverse opportunity set offered within the ABF market, as well as risk mitigation, asset valuation, and the origination process.