Securitization is the process of converting private assets into securities that investors can acquire and hold through standard custody channels. It is achieved through a Special Purpose Vehicle (SPV) that acquires the underlying real or financial asset and issues a security — typically a debt instrument, or note — backed by that asset.

These Asset-Backed Notes (ABNs) are fully custodial: they carry an ISIN, are registered with a Central Securities Depository such as Clearstream or Euroclear, and can be held and settled through any bank or broker that participates in standard securities infrastructure. Investors subscribe and hold them exactly as they would any listed security.

Under the Luxembourg Law on Securitisation, the SPV can securitise a remarkably broad range of assets — private equity, venture debt, real estate, private credit, receivables, commodities, fund interests — without triggering full EU Securitisation Regulation requirements or CSSF supervision, provided the structure does not involve tranching of credit risk and issuance remains below three times per financial year.

Yooro operates an existing Luxembourg securitisation vehicle with multiple compartments. Each new deal is structured as a dedicated compartment — ring-fenced by statute, with its own assets, liabilities, and notes — giving promoters full legal isolation without the cost and time of setting up a new entity.