Private Equity Wire recently published an article highlighting Investindustrial’s recent EUR 600 million facility as one of the first European subscription credit facilities linked to Environmental, Social, and Governance (ESG) initiatives.
Private Equity International published an article last week on the recent popularity of NAV facilities as a tool to access liquidity. The article discusses how NAV facilities have emerged in “record numbers” as an answer to the liquidity crisis stemming from the COVID-19 pandemic. But the article goes on to warn that the practical challenges accompanying these facilities cannot be overlooked.
This week, Private Equity News published an article by 17Capital partner Thomas Doyle highlighting portfolio financing as a quick source of liquidity in the midst of the COVID-19 pandemic, with 17Capital completing nearly one billion dollars’ worth of financings in recent months.
FFA University, the intensive, full-day training session designed for both bankers and lawyers transacting under U.S. law in the arena of Fund Finance, will be held virtually this year on Tuesday, September 22.
Brickfield Recruitment, an executive search firm focused exclusively on the fund finance sector, is currently seeking candidates for a VP position on the credit desk of a global bank.
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In today’s video version of Fund Finance Friday: Industry Conversations, Mike Mascia of Cadwalader hosts Alexandra Woodcock and Alex Last of Mourant to discuss the Cayman Islands Private Funds Law and its impact for lenders, and then Terry Hatton, Managing Director at MUFG, gives an excellent update on what the bank has seen in the first half of 2020 and what it is forecasting for the rest of the year.
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Due to its proximity to the UK, the corporate vehicles available in Jersey have historically followed those available in England and Wales. This is mainly because HMRC classifies an entity according to its characteristics rather than using the "check-box" election system seen in the U.S. The introduction of the limited liability company (LLC) under Jersey law is designed with the U.S. market in mind and is seen as a means to enable Jersey to continue to grow the amount of in-bound business from North America.
Practising Law Institute (PLI) hosted a live webcast earlier this week, titled “Trends in Fund Finance in Light of COVID-19,” as part of its “One-Hour Briefings” program. Cadwalader’s Wes Misson was joined by Ramya Tiller of Debevoise & Plimpton for a discussion of the effects of COVID-19 on fund financing.
The FFA’s European NextGen initiative held their first virtual event earlier this week. The event had originally been scheduled to be held at Haynes & Boone’s offices in London in April but was postponed due to the COVID-19 pandemic. The original event was intended to focus on career progression, but due to the current climate, this took a new perspective and focused on career progression whilst working remotely.
The Fund Finance Association this week announced plans for this year’s FFA University. The program will be virtual and take place on September 22. The FFA dialed back the program to a single day to fit the virtual format and reduced the price to $195 in hopes of making the event widely available. Registration will open in the next week or two.