In the past few years we have seen a resurgence of the use of portable alpha strategies tied to hedge fund investments (and the financing arrangements that accompany them), a trend that this old-timer last encountered more than 15 years ago prior to the global financial crisis.
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Register now for the next session of the Fund Finance Webinar Series hosted by Praxio Head of Banking & Finance, Michael Mbayi: “Market Update & Due Diligence,” featuring Cadwalader’s own Leah Edelboim.
Cadwalader’s George Pelling, Nick Shiren and Martin Vojtko authored an article, “Securitisation and Fund Finance,” published in the June 2025 issue of the Journal of International Banking Law and Regulation.
Cadwalader is proud to sponsor the Diversity in Fund Finance Committee’s Third Annual Summer Soirée: Seoulful Connections taking place on June 26th!
Congratulations to Dee Dee Sklar who has joined Bayview Asset Management as a Senior Advisor in the firm's Insurance Asset Management business.
Fund finance is and always has been by nature a cross border enterprise. While there are a number of lenders that we represent in the United States that lend to funds exclusively organized in the U.S.– typically in Delaware – that is as a general matter the exception rather than the rule. Given a confluence of factors, including the home jurisdiction of certain investors, tax, and other legal and economic considerations, most fund structures also feature entities organized outside the U.S., most typically in Canada, Cayman, Ireland, Luxembourg, and other European jurisdictions. Therefore, there are cross-border considerations in almost every fund finance deal. Our wonderful stable of local counsel is a critical part of these transactions by drafting and negotiating provisions that are relevant to the legal constructs of the jurisdictions in question, in particular those that relate to the existence, power and authority of such entities, the grant and perfection of security interests, and advising on mechanics that may be unique to the account structure or depositary arrangements, in these jurisdictions.
While the paragraph above gives some perspective on our day-to-day U.S. practice, the subject of this article is slightly different in perspective. In deals originated out of our London fund finance practice, we frequently work alongside our London colleagues to act as their local counsel in connection with English law governed credit or facilities agreement featuring U.S. obligors.
Cadwalader Fund Finance, Finance and Financial Services Group partners have contributed to the 13th edition of Lending & Secured Finance 2025, which covers common issues in lending and secured finance laws and regulations – including guarantees, collateral security, financial assistance, and syndicated lending, published by Global Legal Group.
We’re looking forward to the DealCatalyst Future of Fund Finance Conference next week at the New York Marriot Downtown in Manhattan.
Cadwalader is proud to be a lead sponsor and have Partners Angie Batterson and Gregg Jubin speaking at the conference, sharing their insight on key industry topics.