The Fund Finance Association’s NextGen network announced a May 25th event focused on team construction and personality types, followed by a networking reception. For more information or to register, click here.
Offshore law firm Wildgen this week published a multi-jurisdiction fund finance security guide, with contributions from many of the leading fund finance law firms. The U.S. chapter was co-authored by Cadwalader’s Wes Misson, Brian Foster and Patrick Calves and is available here.
The Drawdown this week published a guest contribution by Mohith Sondhi of OakNorth Bank covering his forecasts for how macro market volatility will impact fund finance. The subscription-required article is accessible here.
Come join WFF’s fireside chat on June 1 with Mary Schapiro to learn how the financial sector is taking up arms in the battle against climate change. To register, click here.
Investec recently published a thought leadership piece on how sponsors can structure additional leverage above the portfolio-company level when a portfolio company is unable to optimize leverage levels directly. To access the piece, click here.
Fitch Ratings released a report this week on private equity collateralized fund obligations and their positive credit performance over the past six months. In the report, Fitch noted that some tranche rating upgrades are occurring as a result of deleveraging. The report is premium content and requires a subscription, but is accessible here.
We are very pleased to welcome several new team members to our Fund Finance group and our firm. We look forward to their contributions as part of our growing practice.
Wells Fargo is looking to hire a Vice President in either New York or Charlotte for its Subscription Finance Group.
Hark Capital is looking for an Associate to join its team in New York.
We have been closely monitoring the sanctions landscape over the last few months. Back in March, we covered the sanctions levied by the United States and other jurisdictions in response to Russia’s invasion of Ukraine. The sanctions impair Russia’s ability to access the international financial system and are designed to have a severe and lasting effect on Russia’s ability to fund the war in Ukraine and other such initiatives. Sanctions are serious business and may result in strict liability, meaning that a financial institution or other party can be liable for a sanctions violation even if there is no knowledge of or intent to commit a violation. When it comes to managing risk, most financial institutions consider sanctions risk in terms of the parties with whom they interface directly.
Fitch Ratings hosted a webinar this week on its expected ratings for the Class A-1, A-2 and B classes of the Astrea 7 Pte. Ltd. collateralized fund obligation of private equity fund interests. To access the webinar, click here.