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Agency MBS & Securitized
Credit Specialists

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The Bright Meadow Team* manages $4.3B** in Agency MBS and Securitized Credit strategies across multiple funds and accounts. As a Mariner investment team, Bright Meadow leverages an established institutional infrastructure to deliver compelling investment solutions and client service.

Credit Clubhouse Podcast: Beyond Yield: Finding Value in Securitized Credit

August 5, 2026

Credit Clubhouse Podcast: Beyond Yield: Finding Value in Securitized Credit

Some of the most interesting opportunities in securitized credit are emerging where markets are still evolving and risk is still misunderstood. Joseph Allen, Deputy CIO & Head of Securitized Credit Strategies of Bright Meadow, a Mariner Team, joined Todd Anderson on DealCatalyst's The Credit Clubhouse to discuss where he sees the most compelling relative value across securitized credit today. Joe explains why Bright Meadow continues to find digital infrastructure compelling and why he sees the near-term risk in data center credit as a function of supply rather than credit deterioration.

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Bloomberg: AI-Driven Supply in Data Center CMBS

August 4, 2026

Bloomberg: AI-Driven Supply in Data Center CMBS

Data center deals now make up a growing share of the CMBS market — 7.3% of issuance this year, Trepp, Inc. data shows — and the pace of AI-linked supply is giving investors room to be choosy about which deals they take. Joseph Allen, Deputy CIO & Head of Securitized Credit Strategies of Bright Meadow, a Mariner Team, spoke with Bloomberg News' Ameya Karve about what that volume means for how investors approach the sector.

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Bloomberg Intelligence FICC Focus Podcast: Bright Meadow's Rilander on MBS, Housing Policy

July 24, 2026

Bloomberg Intelligence FICC Focus Podcast: Bright Meadow's Rilander on MBS, Housing Policy

Many are calling streamlined refinancing a win for borrowers. But the story may be more complicated. Adam Rilander, Managing Partner, CIO and Head of Agency MBS of the Bright Meadow, a Mariner Team, joined Bloomberg Intelligence's FICC Focus podcast to discuss why making refinancing easier could price that risk right back into rates and why a policy intended as borrower relief may quietly push the front end of the mortgage market higher. He also weighed in on the Road to Housing bill, the lock-in effect, and where he sees value in agency MBS today.

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Risk.net: MBS Convexity Hedging: Back with a Vengeance, or a Ghost Story?

July 20, 2026

Risk.net: MBS Convexity Hedging: Back with a Vengeance, or a Ghost Story?

“Even if MBS hedging doesn’t leave as visible an impact as it did pre-2008, that doesn’t mean that it’s having no impact: I think it always does. It’s just a matter of magnitude.” Adam Rilander, CIO and Head of Agency MBS of Bright Meadow, a Mariner Team, recently sat down with Risk.net’s Rebecca Baird-Remba to discuss convexity hedging in the MBS market. He highlighted the growing share of higher coupon mortgages, what that means for negative convexity risk and hedging flows, and the often overlooked impact on U.S. rates markets.

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Hedgeweek: Finding Value in Mortgage Market Complexity

June 30, 2026

Hedgeweek: Finding Value in Mortgage Market Complexity

Despite being a $9 trillion market with returns that can be uncorrelated to the broader markets, Agency MBS remains underrepresented across hedge fund portfolios. In a featured interview with Hedgeweek’s Tom Watkins, Adam Rilander, CIO and Head of Agency MBS of Bright Meadow, a Mariner Team, explores why Agency MBS continues to be overlooked, what the Fed's balance sheet unwind means for the opportunity set, and how the asset class can offer a differentiated return profile.

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Bloomberg: Google’s Backstops Underpin $35 Billion Chip Deal for Anthropic

June 9, 2026

Bloomberg: Google’s Backstops Underpin $35 Billion Chip Deal for Anthropic

Demand for AI computing capacity is accelerating at a rapid pace, and companies are increasingly structuring complex financing partnerships to secure access to AI infrastructure buildouts. Joseph Allen, Deputy CIO & Head of Securitized Credit Strategies of Bright Meadow, a Mariner Team, sat down with Bloomberg to discuss the maturation of structured finance deals in the AI infrastructure market, and why any concerns about supply outpacing demand have quickly been eliminated.

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PERE Credit: Castlelake, Redwood Jumbo Mortgage JV Highlights Broader Residential Focus

May 27, 2026

PERE Credit: Castlelake, Redwood Jumbo Mortgage JV Highlights Broader Residential Focus

Adam Rilander, Managing Partner, CIO and Head of Agency MBS of Bright Meadow, a Mariner Team, spoke with PERE Credit about how the Federal Reserve’s move to reduce the size of its balance sheet has created opportunities for agency-focused buyers seeking relative value. Adam also discussed the benefits of combining agency mortgages and structured credit, emphasizing that their distinct risk profiles are compelling to investors across different market cycles.

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Structured Credit Investor: Data Centre ABS: Growth from the Ground Up

May 19, 2026

Structured Credit Investor: Data Centre ABS: Growth from the Ground Up

In a featured Q&A with Structured Credit Investor, Joseph Allen, Deputy CIO & Head of Securitized Credit Strategies at Bright Meadow, a Mariner Team, discussed the growing investor demand for data center-backed credit, why AI inference demand may act as a tailwind for existing bonds in the ABS market, and why we believe data center lending will become a standardized part of credit investing.

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Bloomberg: ‘Cheap’ Data Center ABS Lures Bright Meadow

May 4, 2026

Bloomberg: ‘Cheap’ Data Center ABS Lures Bright Meadow

Joseph Allen, Deputy CIO & Head of Securitized Credit Strategies of Bright Meadow, a Mariner Team, spoke with Bloomberg about Bright Meadow’s white paper on Data Center ABS and CMBS, and why this sector is one of the most compelling relative value opportunities in structured credit today.

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White Paper: ‘@Starbucks, Send Compute’: A Digital Infrastructure Credit Update’

April 15, 2026

White Paper: ‘@Starbucks, Send Compute’: A Digital Infrastructure Credit Update’

We examine the drivers of Data center ABS and CMBS dislocation and make the case for compelling relative value across digital infrastructure credit, including how accelerating AI inference demand is reshaping long-term capital deployment in the sector.

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Wall Street Journal: The Race to Refinance Makes Mortgages More Expensive for Everyone Else

November 21, 2025

Wall Street Journal: The Race to Refinance Makes Mortgages More Expensive for Everyone Else

Adam Rilander, CIO and Head of Agency MBS Strategies of Bright Meadow, a Mariner Team, spoke with the Wall Street Journal about why a shift in borrower behavior has driven agency MBS spreads wider and what this means for mortgage rates longer term.

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