The success of open-ended funds through the pandemic has closed many of the open concerns. Open-ended funds won’t replace the close-ended funds, but lenders should approach them with an open mind. In this article, RBS discusses the evolution of these funds, their strengths and the best practices when closing these deals.
Societe Generale and Dechert LLP will be hosting a virtual webinar discussing issues managers should consider when arranging the financing for their permanent capital funds and platforms on April 20 at 12:15 p.m. For more information and to register for this event, click here.
Lloyds Bank’s Fund Finance team, led by Global Head Jill Wilson, has announced recent promotions, including:
- Scott Turner, promoted to Managing Director and Head of Sponsors Strategic Origination & Partnerships, expanding his role to include global strategic origination activity for the Financial Sponsors team;
- Stephen Giacolone, promoted to Managing Director and Head of Sponsors & Structured Finance North America, expanding his role to also include Loan Markets and Infrastructure & Project Finance; and
- Natasha Puri, promoted to Director, Financial Sponsors North America.
Congrats to Scott, Stephen and Natasha!
Appleby has announced the partner promotion of Georgina Pullinger. Georgina specialises in finance transactions, with a particular focus on fund finance, and regularly advises leading financial institutions on lending transactions, deal structures and on all types of secured transactions. Georgina also has significant experience on general corporate and commercial matters, including restructurings and M&A transactions.
Avardi is hiring an associate or vice president in London.
Blue Torch Capital is looking to add an Associate to an emerging platform focused on Special Situations, Sponsored, and Growth direct lending opportunities.
Bridge Bank is looking for two Credit Analysts or Senior Credit Analysts to join its Equity Fund Resources team in the New York, Boston or San Jose offices.
First Republic is hiring for a Client Portfolio Manager and a Portfolio Quality Analyst in New York.
Goldman Sachs is looking to hire a fund financing associate in New York for its Alternatives Capital Markets & Strategy (ACMS) group. The team is also hiring for a Vice President.
ING is looking for an Associate to join its growing Fund Finance team based in London.
Standard Chartered is looking to hire an Associate Director, Fund Finance with 3-5 years of experience in commercial and/or investment banking or associated disciplines.
Velocity Structured Solutions is hiring Associates for its New York office.
Cadwalader’s Samantha Hutchinson has once again been recognized as an industry leader among the IFLR1000 Women Leaders.
The 2022 annual guide (representing the fifth edition) features “an exclusive group of lawyers with outstanding reputations within their markets who either have expertise and experience of working on complex deals, or who have risen to hold leadership roles with their firms or their practices.”
We are especially proud that Sam is the “Featured Woman Leader” in the guide’s UK section, where she is described as “incredibly well known in the market for her work in fund financing, specifically with subscription and leveraged deals, though she has experience across all fund finance products.”
Congrats to Sam and all the deserving honorees!
Sam Hutchinson: Many of you know that the Cadwalader London fund finance team recently expanded its service offering by bringing on board Mike Hubbard, previously responsible for loan distribution at Lloyds Bank. Whilst this isn’t the first time a law firm has brought banking experience in-house, it is the first time that this has been done in the fund finance industry.
Sam Hutchinson and Michael Hubbard: Many have asked: “Why now and what value does this add?” “Has the Cadwalader London fund finance team moved into the ‘advisory business’?” The second question is easy to answer. No, we haven’t. This expansion isn’t taking us into a new direction or part of a new strategy. It is ensuring our European GP clients receive the best possible service they can to navigate through the fund finance market which is inherently private and which all of our readers we're sure will agree has experienced more innovation in the last three years than our industry has seen in the last 25 years.
The FFA’s NextGen APAC team is hosting a virtual discussion and market update on Thursday, April 7 at 3 p.m. Hong Kong time. For more information or to register, click here.
Brickfield Fund Finance Recruitment has released its 2022 Q1 report on fund finance recruitment. The report, which can be downloaded from Brickfield’s website, gives the recruiter’s analysis of the year so far with some predictions and advice.
The Drawdown has announced an awards program to acknowledge “the most influential members of the fund finance market.” The awards aim to highlight innovation, creativity, outstanding client service, product improvement and more. To learn about how to nominate by the April 29 deadline, please visit here.