In Walkers Offshore Fund Finance Update – Asia, Europe & US Markets, Walkers notes recent trends, including differences in the range of deals they are seeing across the markets, their anticipated activity for deals going into 2021, and general observations on how long deals are taking to close and the potential impact on financing terms.
In its “NAV Facilities Playbook,” Ganryu Capital Partners has put together a guide to designing tailored NAV facilities, and shows how these bespoke, asset-backed arrangements can be used to supplement traditional subscription credit facilities throughout the life of a fund.
Lexology recently featured an article – authored by Khizer Ahmed, Managing Partner, Hedgewood Capital Partners; Matthew Kerfoot, Partner, Dechert; and Edward Newlands, Partner, Dechert – titled “NAV Facilities: The ‘Small’ Approach That’s Big News in Fund Finance” that considers the so-called “concentrated NAV facilities,” and highlights how such facilities are distinguished from traditional NAV facilities.
Previous Fund Finance Friday articles have looked at due diligence and structuring considerations with respect to GP and co-invest facilities. This article builds on those topics to look at how financial covenants are generally structured in the context of a GP facility in Europe.
In this week’s Fund Finance Friday: Industry Conversations, Barings’ Sabih Hussain joins Samantha Hutchinson to provide his take on the impact of COVID on the private credit markets and his experience of using fund finance products through the pandemic.
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Professor | Conservatoire National des Arts et Métiers (CNAM)
Why are funds and lenders considering and using Environmental, Social, and Corporate Governance (ESG) and Green Loan principles in financing? Investors are increasingly demanding greater transparency about how their money is invested, and ESG is seen as a value-generating component and a new growth driver for asset managers. Although investors are not usually directly involved in the General Partner investment decisions (for legal and operational reasons), they have considerable influence on the overall investment policy of the fund and the context in which the decisions are taken through the setup of the fund.
Join Women in Fund Finance on Tuesday, November 10 for a conversation with Jill Lampert (NGP), Alexandra Pruner (Tudor, Pickering, Holt & Co; Independent Board Director: Plains All American; NRG Energy; and Encino Acquisition Partners), and Staci Taruscio (Rebellion Energy, LLC). The speakers will provide an update on the energy market and the impact of COVID-19, and will address the energy industry talent pipeline and board service. This virtual conversation will be moderated by Erin England (Katten Muchin Rosenman LLP).
As we announced in last week’s FFF, Bill Ackman, the CEO and Portfolio Manager of Pershing Square Capital Management, L.P., will give the keynote address at this year’s Finance Forum. This year's event will also once again feature live panel sessions with finance industry leaders, including two panels of particular interest to FFF readers.
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Rushika Athia of First Republic Bank has been promoted from Senior Credit Analyst to Director. Rushika joined First Republic in 2018 and hit the ground running with the NY PE Finance Team. |
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Jack Chaplin has joined Deloitte’s Debt & Capital Advisory team as an Assistant Director, with a specific focus on building out the Fund Finance advisory business alongside Jamie Mehmood and Ben James. |
Cadwalader is looking to hire a senior and a mid-level associate in its Fund Finance group in the Charlotte or New York office.