Earlier this week, Private Debt Investor published an article titled “Under the Hood of Fund-Level Leverage,” written by Neil Rudd, Senior Managing Director and Chief Operating Officer of NXT Capital, a commercial finance company.
Women in Fund Finance is pleased to hold the second "Wit & Wisdom Series" meeting in London, connecting senior women in the fund finance industry with junior members for intimate breakfast discussions.
Earlier this month, an extremely detailed academic analysis on the impact of subscription facilities on fund IRRs was published in Europe, titled “Distortion or Cash Flow Management? Understanding Credit Facilities in Private Equity Funds.” Here’s a summary of the study and thoughts on its conclusions.
The recently adopted changes to the Volcker Rule regulations add an exemption for risk-mitigating hedging in the context of covered fund activities. The exemption allows a banking entity to hold ownership interests in covered funds, including hedge funds and private equity funds, to facilitate the exposure by its customers to the profits and losses of such covered funds.
A topic that should be fairly straightforward this week, but as always, with a couple of twists. Given that the ultimate recourse under a capital call / subscription facility is to the Investors, it is very important to be clear about the nature and extent of the commitments which Investors have undertaken to the Fund which are available to repay the Lenders – and it is the Investors’ commitments which are the primary building blocks of the borrowing base or leverage against which the Lenders will provide to the Facilities.
Alistair is a partner in the corporate and finance group of Carey Olsen in the Cayman Islands and advises on all aspects of finance, corporate, investment funds and commercial law.
He has advised clients on a broad range of transactions, including financing, private equity, joint ventures, mergers and acquisitions and capital markets, and is described by clients in IFLR1000 as "the best Cayman lawyer we've ever worked with."
Alistair is rated as a Leading Lawyer – Highly Regarded in IFLR1000 2019.
Private Funds CFO earlier this week published an article titled “Defaulting on Commitments: What Happens,” written by Ed Hall, a partner in Goodwin Procter LLP’s private investment funds team.
