Clarus Capital closes second securitisation, passing $600M in cumulative ABS issuance
What's the deal? Clarus CapitalDealroom has a profile for this one. Try Dealroom → has closed its second asset-backed securitisation, CLARUS 2026-1, secured by a portfolio of commercial equipment leases and loans worth more than $332M. The deal brings Clarus' total ABS issuance past the $600M mark.
The senior securities earned the highest possible short- and long-term ratings from both MoodyDealroom has a profile for this one. Try Dealroom →'s and Kroll Bond Rating Agency. Wells Fargo SecuritiesDealroom has a profile for this one. Try Dealroom → served as structuring agent and bookrunner, with Bank of America SecuritiesDealroom has a profile for this one. Try Dealroom → as co-manager.
Why now? Clarus is positioning itself as a programmatic issuer — a firm that taps the securitisation market regularly rather than on a one-off basis. Chief financial officer Mike Eisenstein said the deal drew "strong demand from a broad base of both existing and new ABS investors," suggesting appetite for equipment-finance paper remains robust.
The transaction also lowers Clarus' cost of capital by locking in long-term, matched funding — a strategic move as the firm scales its lending to private equity-backed businesses across multiple industries and equipment types.
What could go wrong? Securitisation markets can tighten quickly if credit conditions deteriorate. Clarus' portfolio is concentrated in sponsor-backed enterprises; a downturn in private equity deal activity or a rise in defaults among portfolio companies could pressure performance. The firm's track record, built over more than two decades, has yet to be tested under its current ABS structure at scale.
The signal: Still classified as an "early growth" stage company on Dealroom, Clarus is punching above its weight in the capital markets — surpassing $600M in cumulative ABS issuance backed by an investor syndicate that spans BharCap PartnersDealroom has a profile for this one. Try Dealroom →, corporate backer Delaware LifeDealroom has a profile for this one. Try Dealroom →, and bulge-bracket underwriters Wells Fargo Securities and Bank of America Securities. The rapid progression from first to second securitisation suggests speciality equipment lenders with strong sponsor-backed portfolios can build programmatic market access faster than ever, potentially reshaping how private credit platforms fund themselves outside the traditional banking channel.
Read more: Equipment Finance Advisor
