Massena builds the analytics, valuation, and servicing systems that private credit funds, family offices, originators, and ABS issuers actually need to run institutional portfolios. We build the tracking systems that let you monitor in real time, intervene early, and protect collateral value before problems become losses.
We work with a deliberately narrow set of institutional buyers. Each engagement looks different, but the common thread is a need for finance fluency and engineering capability under the same roof.
Direct lending, asset-based lending, and specialty credit managers professionalizing operations for institutional capital and Fund II.
Single and multi-family offices allocating directly into private credit, litigation finance, and specialty assets without administrators built for them.
Consumer and small-business lenders building the analytics, servicing, and capital markets infrastructure to access warehouse and ABS markets.
Pre-settlement, post-settlement, mass tort, and commercial litigation finance managers needing valuation, surveillance, and LP-ready reporting.
Structured credit platforms and ABS issuers running master trusts and revolving facilities, where borrowing base and covenant accuracy is non-negotiable.
Post-charge-off receivables purchasers needing portfolio analytics, ERC modeling, recovery curve back-tests, and the reporting infrastructure to support continued bidding and capital raises.
Banks and credit funds providing facilities to specialty platforms, needing independent borrower surveillance, collateral verification, and backup servicing oversight as a condition of lending.
Insurers and annuity providers allocating into private credit, structured settlements, and royalty streams. Specific reserving, marking, and regulatory reporting needs that off-the-shelf administrators do not cover.
Most consultancies leave you with a deck. We leave you with a working system, documented assumptions, and the institutional memory to operate it after we're gone.
We model litigation finance waterfalls, ABS triggers, and borrowing base mechanics because we have lived in them. The technology is in service of the finance, not the other way around. Our solutions architects can read a credit agreement before they write the SQL.
Every engagement is led by a Managing Director or Director who stays involved from first call to delivery. You are talking to the people writing the code and reading the indenture. The trade-off is we work with a small number of clients at a time. That is by design.
Dashboards your CFO actually opens. AWS pipelines that survive an audit. Valuation models with documented assumptions you can defend to LPs. We are accountable for what we build past the close date.
Our clients raise institutional capital. That means everything we deliver, from data lineage to backup servicing readiness to covenant test documentation, is built to clear LP, lender, and auditor scrutiny on the first ask.
From transaction structuring to ongoing portfolio surveillance, we cover the operational layer that turns a credit strategy into an institutional platform.
Custom analytics, valuation, and surveillance platforms for private credit funds, family offices, and originators. Borrowing base automation, covenant testing, real-time portfolio dashboards built on serverless AWS infrastructure.
Defensible valuation frameworks for litigation finance, medical liens, pre-settlement advances, structured settlements, royalties, IP rights, and consumer receivables. Models the auditors and your investment committee can both work with.
RFP design, vendor selection, transition planning, and ongoing oversight of primary and backup servicers. Built for managers facing institutional capital requirements or lender mandates for servicing redundancy.
Credit facility structuring, recapitalizations, accordion design, advance rate optimization. We stay involved past close to administer the borrowing base and manage covenant compliance with the lender.
Serverless data warehouses built for ABS issuers and private credit managers. Board-grade reporting, investor reporting packages, and audit-ready documentation, all running on the same source of truth.
Credit scoring, fraud screening, and ongoing borrower surveillance models tuned for esoteric and subprime consumer assets where bureau data alone is not enough. Built, integrated, and monitored post-launch.
Every Massena engagement ships with reporting built on the live portfolio data. No spreadsheets pulled the night before. No reconciliation calls. One source of truth, multiple views.
| Trigger | Current | L1 | L2 | Result |
|---|---|---|---|---|
| Non-Default Cash Collection | 95.4% | 96.8% | 94.0% | Pass |
| Vintage DOB 240 Coll. | 106.7% | 105.7% | 100.0% | Pass |
| Min. Net Yield | 1.8% | 2.6% | 0.0% | Pass |
| Adj. TNW of Sponsor Group | $18.2M | $7.5M | — | Pass |
| Liquidity of Sponsor Group | $22.1M | $15.0M | — | Pass |
| Min. Senior Int. Coverage | 2.75x | 1.19x | — | Watch |
| Rank | Category | $ | % | Avg | N |
|---|---|---|---|---|---|
| 1st | 15-22.5% | 37.4M | 35.7% | 6.24K | 5,989 |
| 2nd | 0-15% | 28.5M | 27.2% | 5.80K | 4,916 |
| 3rd | 22.5-25% | 14.8M | 14.2% | 7.55K | 1,967 |
| 4th | 25-27.5% | 10.8M | 10.3% | 5.60K | 1,931 |
| 5th | 30-32.5% | 5.23M | 4.9% | 3.23K | 1,607 |
Our practice is built around the asset classes that institutional infrastructure has not yet caught up to. Each requires its own valuation logic, its own data, its own servicing assumptions.
A sample of recent engagements across the platforms we serve. Names redacted; results documented.
Orchestrated a competitive lender process for a specialty finance platform. Upsized the facility, added a $25M accordion, increased the advance rate, and hedged interest rate exposure. Massena continues to administer the borrowing base certificate post-close.
Read case studyRebuilt the valuation methodology position by position for a litigation finance manager raising Fund II. Three asset classes, one position master, one quarterly valuation pack, documented assumptions. Cleared institutional LP diligence.
Read case studyEngineered an automated collateral monitoring engine on AWS Lambda, S3, and Aurora. Real-time covenant testing across the portfolio, predictive flags for upcoming breaches, and a fully implemented backup servicing plan that cleared LP diligence.
Read case studyCodified every eligibility criterion, concentration limit, and trigger into a single rule engine. Monthly close compressed from five days to one. The treasurer now scenario-tests new origination programs against live data instead of estimates.
Read case studyBuilt a unified portfolio monitor for a family office allocating across private credit, litigation finance, real estate debt, and a direct sponsor co-invest. One quarterly book replacing four manager PDFs and a back-of-envelope rollup. Now produces look-through exposure, vintage IRR, and concentration risk in one view the principal actually opens.
Read case studyRan technical and financial diligence on a specialty finance platform's consumer receivables book for an institutional buyer. Reconciled the loan tape against the servicing system, back-tested seller-provided vintage curves, and surfaced a concentration anomaly that supported a 6% price reduction. IC memo delivered in 18 days.
Read case studyEvery portfolio we touch arrives with its own file formats, its own indenture language, and its own quirks the prior team worked around. We absorb that complexity once, codify it, and turn it into intelligence that runs every day. The result is reporting that holds up to LP, lender, and auditor scrutiny on the first ask.
Every position is reconciled across servicer, custodian, paying agent, and borrowing base on every cycle. Variances surface automatically with audit trails. No more month-end fire drills to explain a $42 break.
Eligibility criteria, concentration limits, triggers, and waterfalls live as version-controlled rules instead of analyst tribal knowledge. When the credit agreement amends, the engine updates in hours, not the next reporting cycle.
A private, context-aware language model sits over the warehouse. Analysts and principals query in plain English, asking questions like "show me obligors trending toward concentration limits" or "which vintages are underperforming the underwriting case," and get answers grounded in your data. Nothing leaves your environment.
Massena is a small team of structured finance veterans, solutions architects, and data engineers. Everyone you see below works on client engagements.
We respond to every inbound within one business day. If you are working on something time-sensitive, such as a facility close, a servicing transition, or a valuation deliverable for a board, say so in the first line and we will route it accordingly.
We will respond within one business day with next steps or scheduling.
