Mondaq Webinars this week announced an upcoming session: "Hot Topics in Fund Finance," scheduled for Wednesday, September 22 at 11 a.m. New York time. Cadwalader's Mike Mascia and Leah Edelboim are presenting. For more information or to register, click here.
Brickfield Recruitment’s Rory Smith has written a guest feature analyzing U.S. mid-market recruitment trends in the September 2021 edition of Private Equity International magazine.
CapMan Buyout this week announced the closing of an ESG-linked subscription facility for its fund XI. KPIs included requirements around greenhouse gas emissions, Board gender diversity and governance policies. The press release is available here.
We had a number of fun milestones at Cadwalader this week, all seemingly in sixes. Six years ago this month, our team joined Cadwalader. We are extremely grateful for how supportive the Firm and our Managing Partner Pat Quinn have been to our fund finance practice. As of Monday of this week, we had the last of six new attorneys join our team in the month of August, bringing our total global headcount to 60 fund finance lawyers.
Citco Capital Solutions is hiring an Associate in New York. This is a unique opportunity to join a high-growth team within an established company engaged in a broad range of fund finance activities, including lending and advisory work.
Stifel Bank is seeking a Fund Banking Analyst to join its growing team.
We are very excited to welcome several new team members to our fund finance practice and our firm. Each brings outstanding credentials and a commitment to client service, and we look forward to involving them in our client assignments.
Over the past 18 months, as we have previously discussed, use by private equity funds of both NAV loans and preferred equity solutions has increased. For our purposes, NAV loans are loans to private equity funds that are supported, either on a secured or unsecured basis, by the value of the assets of the private equity fund. The loans are senior obligations of the borrowing fund and are documented under loan agreements with robust representations, covenants and events of default. The loan covenants typically place limitations on the activities of the borrowing fund, such as the amount of overall indebtedness it may incur, its ability to pledge or dispose of investments and its use of cash received from portfolio investments. NAV loans have fixed maturities that can only be extended by agreement of the lenders and have largely fixed returns to lenders (typically in the form of a floating interest rate plus a spread).
The Fund Finance Association this week released the agenda and speakers for FFA University.
The Fund Finance Association Next Gen network is hosting an event with psychologist, counsellor and trainer Mandy Rutter. Sign up to learn more about the three dimensions of burnout and how we can grow and adapt to better manage and prevent burnout.
In this week’s Fund Fanatics episode, Jeff Maier and Scott Aleali begin their conversation with Michael Sidgmore, Co-Founder and Partner at Broadhaven Capital Partners, by stepping into the rapidly developing trend in alternative investment assets − Alt Alt Assets, the merging of finance and culture.