Understanding and applying either a use-of-proceeds or a performance-based structure is essential to originating an ESG fund finance facility. (Experienced counsel, we’ve heard, also helps.) In the second installment of its ESG fund finance primer, Private Equity Law Report explores the practical implementation of both approaches, with the help of Cadwalader’s Wes Misson and other market participants. Getting the performance objectives right and steering clear of greenwashing fall within the terrain covered.
Join Women in Fund Finance (WFF) and Diversity in Fund Finance (DFF) for a fireside chat with Carla Harris, Vice Chairman of Wealth Management, Managing Director and Senior Client Advisor at Morgan Stanley, as well as gospel recording artist and author of Expect to Win and Strategize to Win, to discuss maximizing success and leadership in your career. The program will be moderated by Deborah Montaperto, Managing Director and Private Wealth Advisor at Morgan Stanley. To register, click here.
After a successful conclusion to the Fund Finance Association’s first annual U.S. Mentorship Program, the Fund Finance Association is now recruiting mentors and mentees for the 2021-2022 program.
WFF will host a night of networking and drinks in partnership with Allen & Overy and Clifford Chance at the Tate Modern, London, on November 2.
This edition of Brickfield’s Fund Finance Voices features Julie Thick, Managing Director and Director of the National Subscription Lending Platform at JPMorgan Chase & Co. in Chicago. Julie provides insight on the importance of the fund structure in the real estate industry and the growth that it has caused over the last 25 years.
The Cadwalader London Fund Finance team has continued its impressive record of awards, award nominations and other recognition for its outstanding work in the market. Recently, The Legal 500 UK recognized London practice head Samantha Hutchinson as a “Leading individual,” and also recognized partner Nathan Parker and associate Mathan Navaratnam in the Fund Finance arena.
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With ESG (Environmental, Social and Governance) funds on a dramatic incline, an incline expected to continue going forward, it seems inevitable that regulatory reform is on the horizon. Europe has been leading the charge in the incorporation of ESG considerations into its regulatory framework. As we look to gauge what type of regulatory reform might be around the corner for us here in the U.S., specifically in the realm of fund finance, it is useful to look at the regulatory developments in the EU.
In this week’s FFF: Industry Conversations, Cadwalader partner Samantha Hutchinson sits down with Ares Credit Group's Andie Goh and Peter Keane to discuss how fund finance fits into the alternative credit space, activity in the market, and more.
Yesterday, the Loan Syndications and Trading Association (the “LSTA”) circulated a revised draft of its Form of Revolving Credit Facility to its members. The LSTA first published its comprehensive Form of Revolving Credit Facility in 2017. Prior to that time, the LSTA had “Model Credit Agreement Provisions,” a library of standard provisions for a credit agreement, but it had not previously offered its members a full-form credit agreement.
ESG-linked facilities sped from a concept with a handful of prototype deals in the wild 18 months ago to becoming an established and growing segment of the fund finance market today. Investor demand is the driving force, and sponsors are responding with ESG-oriented fund offerings. Value-aligned financing is a logical next step. In the first installment of a two-part series, Private Equity Law Report traces the path of the ESG fund financing market from inception to the current framework for pricing and performance measurement, leaning on insights from Cadwalader’s Wes Misson along with other market participants.