In “Subscription Line Finance – Irish Funds,” Walkers provides an overview and comparison of the most common regulated and unregulated Irish fund types that they observe in the subscription line finance space.
Carey Olsen attorneys look at hybrid facilities through an Asia Pacific market lens in a recent article. Portfolio company change of control provisions and the lender’s ability to exercise security over shares are among the considerations highlighted in what are typically multi-jurisdictional financings.
I was pleased to be joined on the phone this week by the core fund finance and ESG sustainability team from Rabobank: Diana van Lieshout, Head FI Lending & Fund Finance; Wouter König, Associate Director FI Lending & Fund Finance; and Maarten Biermans, Head of Sustainable Capital Markets. Rabobank has been front and centre as Sustainability Coordinator on some of the European market’s highest-profile ESG-linked subscription finance facilities, and so we are grateful that they agreed to discuss their experience of the role of Sustainability Coordinator and also to offer some insight into their view of the development of the fund finance ESG market over the last 12-18 months. They further indulged me in a little crystal ball gazing with what some might consider to be unexpected predictions. My thanks to Diana, Wouter and Maarten for participating!
Diversity in Fund Finance will host its next Boundary Breakers speakers series event: a conversation with Marcia Page, Co-Founder and Executive Chair, and Kirsten Voss, Senior Managing Director, of Värde Partners. The program will be held on Thursday, June 24 from 11 a.m.-12 p.m. ET/4-5 p.m. BS.
Carey Olsen outlined common issues a lender must address when utilizing investor portals as the delivery method for required notices to investors to perfect a capital call security.
Tune in on June 15 as a panel of industry experts hosted by Matheson will provide their insights into the potential trends and developments in the coming year. A few of the topics to be highlighted include (i) whether the fund finance market has fully stabilized from the impact of COVID-19, (ii) ESG’s impact on the fund finance market, and (iii) Ireland’s Investment Limited Partnership offering. Panel members will include Alan Keating (Matheson), Donal O’Donovan (Matheson), Erin Goldstein (Wells Fargo), Ryan Troiano (MUFG) and Nick Armstrong (Bank of Ireland). For more information on this webinar, click here.
Private Equity International provided an update on the European mid-market outfit, Waterland Private Equity, which has joined other PE firms with ESG-linked subscription credit facilities. Waterland Private Equity entered an equity bridge facility of €500 million linked to the firm’s €2.5 billion Fund VIII with key performance indicators tied to management company and portfolio company ESG objectives.
“The use of subscription credit facilities is an excellent way to demonstrate a fund’s commitment to ESG, with asset managers putting their margins where their mouths are,” writes IQ-EQ’s Justin Partington in a recent guest column in Private Funds CFO.
Bryan Fischer, a BDO USA alum, has joined Crestline Investors, a Texas-based alternative asset manager specializing in credit financing, where he will work to expand awareness of Crestline’s offerings to a wider universe of private equity, real estate and infrastructure partners. Read more at Private Funds CFO.
