As February comes to a close and we have all had a chance to digest Miami, our 2025 year-end and our prospects for 2026, it’s a good time to evaluate the state of our market. At Cadwalader, we have historically taken the lead on being the central data source for measuring the market, it’s size, growth, trends and challenges. Despite an ever-evolving macro-environment, the fund finance market has maintained a strong upward trajectory across several key dimensions, underscoring both the resilience of the sector and the intensifying growth and competition among lenders.
Hogan Lovells and Cadwalader today announced their intention to combine, creating Hogan Lovells Cadwalader. I wanted to be sure to reach out to you about this exciting news as soon as it was made public.
It is with tremendous gratitude, humility and excitement that I share this note with you as the new Co-Managing Partner of Cadwalader, Wickersham & Taft LLP.
A record more than 2,500 industry players attended the 14th annual Global Fund Finance Symposium that wrapped up at the Fontainebleau in Miami Beach. As has been the trend in recent years, there was a lot to discuss (beyond Tom Brady and Ryan Reynolds!) – continued market evolution, lender expansion, pricing trends, LP liquidity needs, growth of NAV and hybrids, and predictions for 2025 in light of a new political and regulatory environment. Here are 13 notable data points as we move past Miami and into the final month of Q1:
As we head into the Thanksgiving holiday in the U.S. and year-end push throughout the entire fund finance market, we are all thinking about key trends that have emerged and how this sets up for execution next year.
The FFA held its annual Global Leadership Summit this week at the Pine Cliffs Resort in Albufeira, Portugal. Set atop a scene of cliffside ocean vistas and perfect weather, some of the top leaders in the industry across banks, fund sponsors, law firms and other service providers gathered to share thoughts on the current and future state of the global fund finance market.
This year is starting to feel a bit more normalized after the 2021-2022 record origination numbers followed by the 2023 market disruption. In many ways, fund finance has passed the stress test and moved forward. What has 2024 shown us through the first half?