As assets mature in aging funds, both GPs and investors alike are seeking ways to unlock liquidity. GP-led secondary transactions have become an increasingly popular way of achieving this. We review types of GP-led transactions, considerations and potential pitfalls.
We are frequently getting ERISA questions from our Fund Finance banking clients, often in Europe where U.S. retirement plans have increased their investment allocations in recent years. Here, we provide a high-level overview of ERISA and its implications in Fund Finance. In later editions, we will detail the specifics around the relevant issues, including the exemptions that can help to keep banks in the clear.
The Next Generation in Fund Finance sub-group of the FFA formally launched in Europe with a panel session at Cadwalader’s offices in London earlier this week.
This week the Fund Finance Association’s Next Generation initiative announced its inaugural event in New York. The networking reception is open to junior bankers and lawyers and will take place the evening of Thursday, February 21 at 7:00 pm at First Republic Bank’s office at 1230 Avenue of the Americas. For information about the event or to register, click here.
Cadwalader invites you to join us for cocktails and hors d'oeuvres at Scarpetta at the Fontainebleau Miami Beach from 8 - 11 pm on Sunday, March 24 to kick off the 9th Annual Global Fund Finance Symposium.
Debevoise & Plimpton LLP this week released an article spotlighting borrower-friendly trends that have emerged in the expanding fund finance market.
Private Equity International Article on Fund Finance
On January 29, Private Equity International published an article, titled “Fund finance is here to stay.” The premise of the article is that the fund finance markets continue to be busy and that rising interest rates have not created headwinds for facility demand.