Reckoner Capital Hired Managing Director for Financing
Robert Bush joined the firm to expand risk retention solutions for CLO and securitization issuers.
Updated on Sept. 30, 2026 in Corporate Finance
Reckoner Capital Management appointed industry veteran Robert Bush as Managing Director of its Reckoner Capital Company subsidiary. The firm aims to provide greater balance sheet flexibility for issuers managing risk retention positions in structured finance.
Why it matters
As securitization issuers seek more capital-efficient ways to manage mandated risk retention, the firm is positioning its platform to meet growing demand for customized financing. This appointment adds senior leadership to scale the platform alongside Executive Director Anna Di Pietro.
The firm operates under a partnership with RedBird Capital Partners, which manages $15 billion in capital. The platform's success remains contingent on adoption by sponsors and dealers, with official pricing and volume benchmarks for its financing services not yet disclosed.
The players
Robert Bush
The newly appointed Managing Director previously held positions at BTIG, BMO Capital Markets, KGS, Nomura, and J.P. Morgan.
Anna Di Pietro
Executive Director at Reckoner Capital Company who will co-lead the build-out of the firm's risk retention financing platform.
RedBird Capital Partners
A private investment firm managing $15 billion that serves as the strategic partner for Reckoner Capital Management.
The details
Robert Bush will collaborate with Executive Director Anna Di Pietro to develop a financing platform specialized in risk retention for collateralized loan obligations and asset-backed, residential mortgage-backed, and commercial mortgage-backed securities. The team focuses on providing balance sheet flexibility to issuers who must hold risk retention positions under regulatory requirements. They plan to market this platform to bankers, dealers, and sponsors to drive deal flow.
Timeline
Reckoner Capital Company was launched earlier this year.
Robert Bush was appointed Managing Director on September 30, 2026.
The team will present the platform at ABS East in Miami on October 18, 2026.
Market Landscape
This move follows the implementation of the Dodd-Frank Act's risk retention requirements, which force issuers to carry credit risk on their balance sheets. Reckoner Capital is attempting to capture the niche demand for financing these mandatory holdings, moving beyond traditional advisory roles.
Operators in the securitization space should watch for the firm's debut at ABS East, as it may signal new options for offloading risk retention costs. Firms carrying significant retained interest should evaluate whether this new financing channel offers lower costs than current balance sheet holding strategies.
The takeaway
Securitization sponsors should monitor how new entrants like Reckoner Capital adjust the cost of compliance with risk retention mandates. Review your existing credit facility terms against emerging risk-retention financing products to determine if you can optimize your capital allocation.
Further reading
For more on shifts in the structured finance market, visit the Corporate Finance section.
More information
View complete program details on the Reckoner Capital Company business information page.
