Register now to save your spot for an evening of networking with your fellow industry participants. The event includes a panel discussion spanning industry viewpoints, all while enjoying light beverages and bites.
A continuation fund is an entity fund set up by a sponsor in order to purchase an asset (or assets) from an existing fund managed by that sponsor. There are a number of reasons as to why a sponsor would want to pursue this strategy compared with a third-party sale, and a common consideration is that the existing fund is nearing the end of its term and the asset(s) subject to the sale may not reach the desired price in the current challenging exit environment and/or the sponsor and certain investors feel that the particular asset(s) are cash generative and are likely to increase in value with a continued hold by the sponsor combined with follow-on investments.
In this week's Fund Fanatics episode, hosts Scott Aleali and Jeff Maier speak with Jed Johnson, Head of GP Solutions at ORIX USA.
Women in Fund Finance (Chicago) and Sidley are delighted to invite you to a substantive networking session. “Stay in the Loop” offers an immersive networking experience with rotating discussions of topics at the intersection of private credit and fund finance moderated by Chicago industry leaders, all while enjoying light drinks and bites.
One of the best things about fund finance is that there is always something new and exciting happening in our space. New players come online, and new products and solutions solve issues that pave the way for fund borrowers to access capital and for lenders to get deals done. Often novelty is borne out of necessity, and that is very much the case with the increasing use of credit ratings in the subscription finance space. Here we will explain why we are seeing more credit ratings for sublines and issues that agents, lenders and fund borrowers should consider when negotiating a subline where the parties may ultimately seek a credit rating.
The Fund Finance Association has opened their annual "Rising Stars" award nominations. Their deadline is June 15.
The FFA 8th Annual European Fund Finance Symposium on May 2 was another terrific opportunity for industry leaders to share insights and catch up with one another. You can view photos from the event here.
We have recently seen a notable uptick in the usage of equity commitment letters (ECLs) in fund finance transactions and have been spending an increasing amount of time discussing their merits with our clients’ credit teams. So, even though Fund Finance Friday has done overviews of various types of credit support in the past, we thought it was time for a refresh on ECLs, how they are deployed in fund finance transactions and what lenders should look for when relying on them as credit support.