Cadwalader and consultants Sia Partners recently produced a comprehensive benchmarking study on LIBOR transition efforts. More than 75 organizations participated, including U.S. and foreign GSIBs, foreign banks with a sizeable U.S. presence, regional and super-regional banks, insurance companies, corporate and financial end-users, third parties and trade associations.
Here are updates to our Fund Finance Calendar.
Dee Dee Sklar of Wells Fargo this week formally announced her retirement from the bank effective December 31, a major milestone event for our industry.
Brickfield Consultants Ltd has released its highly-anticipated fund finance banker’s compensation and hiring benchmarking survey report.
Cadwalader has announced that Nathan Parker, a fund finance lawyer in our London office, has been promoted to Partner effective January 1, 2020.
Here's a look at what we're reading outside the four corners of fund finance.
Here are updates to our Fund Finance Calendar.
We have had a couple of very active weeks since the last edition of FFF. With that in mind, Jeremy and I coordinated this week to provide our combined observations as we head into the home stretch.
Preferred equity is a tool employed by dedicated funds and traditional secondary investors to provide liquidity and funding solutions to managers with portfolios of assets looking for a solution which allows them to retain the majority of the upside and avoid giving up control of the portfolio in a down-side scenario, either where the manager is looking to accelerate liquidity or invest more capital.
In common with many other LMA facilities, subscription/capital call facilities include standard information covenants relating to provision of general financial information (in particular, annual and quarterly accounts), provision of compliance certificates and other specific “information” covenants covering other matters. However, they also differ from other LMA-based facilities in a number of respects. This article in our series seeks to summarise the main areas of difference and the considerations which apply in particular to this part of the subscription/capital call facility.