Scott Aleali and Jeff Maier released 2021’s second episode of "Fund Fanatics" with an interview of Graig Vicidomino of Alliant Insurance Services. Graig provides some guidance for private equity funds going through the renewal cycle for D&O and E&O insurance policies and teams up with Jeff to debate Scott on the greatness of Joe Montana versus Dan Marino. Check it out here.
TPG is looking to hire for a newly created position in its Treasury Capital Markets team responsible for fund-level financings. Please reference this link for further detail and to apply.
Fund Finance jobs: Cadwalader’s U.S. fund finance team is recruiting for associates, staff attorneys and paralegals. Opportunities are open in New York, Washington, D.C. and Charlotte. For more information, please contact Sophia Pizzorni at sophia.pizzorni@cwt.com.
Kevin Bolz has recently been promoted to Director within Citi Private Bank’s Sponsor Finance group.
Cadwalader Fund Finance partner Kurt Oosterhouse was profiled as an alumnus of Hope College, where he has established the Kurt Oosterhouse ’90 Scholarship Fund to help students reach their full potential. Click here for the full story.
The COVID-19 pandemic brought with it a newfound concern for the financial strength of state pension plans, particularly in states that were already experiencing credit deterioration, growing debt concerns or underfunding issues. Having weathered what will hopefully be the worst of the crisis, our market has emerged unscathed in terms of no known material defaults by governmental investors, including state pensions. In fact, many state pensions have re-upped commitments with funds, and we saw the end of 2020 cap off the most robust year ever for SMA facilities with state pensions as the sole investor. But what if you had to sue to collect from a state pension investor?
Despite the virtual environment, the FFA is as busy as ever. For example, European FFA University is just around the corner on February 4, and the keynote speaker – just announced – will be premier women’s soccer player Eniola Aluko. Please consider investing in your newer team members and supporting the FFA by registering them for the program.
Global Legal Group published the 5th edition of the Pink Book (Fund Finance 2021) this week. Similar to prior years, there are 23 product- and market-oriented chapters and 16 jurisdictional updates, each submitted by a leading fund finance law firm. Mike Mascia was again the Contributing Editor, and this year included his “Year in Review” article as the Introductory chapter (available here). Our great thanks to all of the contributors and to GLG.
Brickfield Recruitment, the global fund finance recruitment specialist, has recently published an article focusing on how legal associates stand to benefit from an expanding fund finance market in 2021. Demand is increasing for associate-level candidates globally with one to four years of experience and looking to develop their career in fund finance, with many firms considering candidates coming from related practice areas.
A recent article by The Drawdown examines the impact of COVID-19 on the deal volume for NAV facilities by buyout funds and what can be expected in the next 12 to 18 months.
Cadwalader’s Fund Finance Team was yesterday awarded “Fund Finance Advisory Team of the Year” at The Drawdown's Private Equity Service Provider Awards, based on the views of a panel of leading private equity COOs, CFOs CCOs, GCs and CTOs. Our UK team won the award for demonstrating “impressive business growth, exceptional service and product innovation” in 2020.