Nearwater has appointed Kylie Duff as managing director and global head of risk retention and structured credit capital solutions. Duff will lead Nearwater's risk retention franchise across securitised products globally and build its strategic risk-transfer platform. Duff joins from Morgan Stanley, where she served as North American head of structured corporates capital markets. In that role, she led the origination, structuring and distribution of nearly $180 billion in volume across more than 350 CLO transactions during her 18 years at the bank. The appointment follows two other senior additions to Nearwater's risk retention financing group: Reggie Fernandez and Kevin Sorgi, both joining as managing directors. Nearwater provides capital and asset-based financing solutions to banks, asset managers, sponsors and originators.

Reckoner to launch risk retention financing for securitizations. Published July 01, 2026, 4:56 p.m. EDT Updated July 02, 2026, 9:45 a.m. EDT Reckoner Capital Management recently announced its intention to launch in September a business providing risk-retention financing for securitizations. It joins at least two other firms that have hired executives away from the long-time leader in the specialty financing niche to launch competing businesses. Anna Di Pietro will officially join Reckoner in September as an executive director focused on risk-retention financing, following two years as an associate director at Nearwater Capital, the top provider of the financing since the firm's inception in 2017. Other Nearwater executives have recently left the firm to join competitors, Jonathan Kitei started last November at middle-market lender PennantPark. He previously ran Nearwater's risk retention financing business for three and a half years.