Here are some updates to our Fund Finance Calendar.
Click here for past editions.
What if a fund borrows under a subscription line to acquire a portfolio company in the cannabis space? Or what if a fund seeks to join a cannabis-oriented portfolio company as a qualified borrower under a facility? Getting the munchies???
Financial institutions operating in the European fund finance market are increasingly having to familiarize themselves with sovereign or state immunity laws and how these laws interact across multiple jurisdictions. Waivers of sovereign immunity, while helpful, are not always perfect.
The State of Delaware recently amended the Delaware Limited Liability Company Act to create a new form of transaction called a “Division.” The impact of Divisions presents lenders making loans to Delaware LLCs with several new challenges.
The Fund Finance Association has made several recent announcements of interest.
Partner Samantha Hutchinson, along with senior attorney Tom Armstrong and associate James Hoggett, joined Cadwalader’s Fund Finance practice in London this week.
Silicon Valley Bank is hiring in its Global Fund Banking division. We also highlight openings at First Republic Bank, Validus Risk Management and Cadwalader.
We hope many of you got some rest and much-needed downtime over the Thanksgiving holiday. Our email traffic last Friday was almost exclusively European, so we are optimistic the U.S. fund finance markets got to spend a little time with family.
Private Equity International published an article on November 26, contemplating possible enforcement options for the subscription line lender in its efforts to recover outstanding amounts under its credit facility with Abraaj Group’s Private Equity Fund VI (APEF VI).