Welcome to Wertheim Consulting
Underwriting with a purpose. Structuring for results.
Creditworthy enterprises need financing strategies that align the strengths and ambitions of their businesses with the demands of the global debt markets. We work closely with corporate finance teams, project sponsors, and investment banking clients to evaluate financing alternatives, address structural constraints, and translate complex funding requirements into credible, actionable strategies for securing access to capital.
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From design to an investable proposition
Structured credit transactions begin with identifiable creditor obligations and an analysis of the cash flows they are expected to produce. Asset quality, legal rights, servicing arrangements, concentration, and transaction costs determine whether a portfolio provides a workable foundation for a structure capable of matching investor objectives.
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Our practice
Our engagement begins with a disciplined examination of how financial structuring can unlock liquidity and broaden our clients’ access to capital. We evaluate collateral obligations, the cash flows supporting repayment, and the legal rights governing their collection, both individually and as components of an integrated financial architecture. Each element serves a defined purpose and rests on a sound economic foundation. From that foundation, we develop fixed-income securities with credit characteristics designed to meet institutional investor requirements. Our analytical rigor and attention to detail serve an inventive purpose: to identify and develop financing opportunities that conventional approaches often overlook. By combining meticulous asset analysis, structural ingenuity, and a practical understanding of credit market demands, we translate complex assets and unconventional business transactions into marketable debt securities.
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Ideas that make financing more probable
A corporate bond generally relies on the obligations of its issuer and any agreed security or support. A securitization adds a defined asset portfolio and transaction-specific allocation of cash flows and losses. We distinguish these approaches when assessing whether a multi-class structure serves the financing objective. Internal credit enhancements assign specified losses to more junior components of a structure before senior positions. Overcollateralization provides additional collateral in excess of the obligations it supports. Funded reserves may be used to meet unexpected shortfalls, while available excess spread can provide an additional level of credit support under the prescribed transaction rules.
Read more →Credit Assessment Framework
Sound financing begins with a clear understanding of the obligations, cash flows, and legal rights supporting repayment. Our credit assessment framework guides how we evaluate these elements and identify opportunities to strengthen the proposed financing.
Explore Our Credit Framework →Financial Architecture
The relationship between assets, obligations, and investor protections shapes the strength of a financing. We develop structures that organize these elements into debt securities suited to institutional credit requirements.
Discover Our Structuring Approach →Pathways to Capital
Complex assets and unconventional transactions require a considered approach to market access. We evaluate financing alternatives and prepare opportunities for presentation to prospective investors and financing counterparties.
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