Fund Finance Association NextGen invites you to join in for the last networking event of the year!
Thank you to all those who participated in the 2023 Walk to End Alzheimer’s by The Alzheimer's Association last week.
Over 700 financial industry leaders and professionals from around the country participated in Cadwalader's seventh annual Finance Forum in Charlotte yesterday. It was wonderful to meet for a collective dialogue on the foremost issues facing the industry today, with respect to fund finance, leveraged finance, commercial real estate, middle-market lending, asset-based lending and structured finance.
We are grateful to our speakers, clients and all attendees who took the time to participate in the event's many dynamic discussions, fireside chats and networking.
Next week's FFF will include more coverage of the Finance Forum. In the meantime, please enjoy these photos!
Yesterday we kicked off our seventh annual Finance Forum with opening remarks from Wes Misson. A transcript of the remarks follow here. We’d love to hear your thoughts on the forum’s discussions, feel free to contact us here.
Thank you to all those who joined Cadwalader’s inaugural European Finance Forum last week. It was a fantastic program, with over 300 in attendance to learn from leading professionals in private capital, debt finance and more. We are grateful to our industry expert speakers, clients and all attendees who took the time to participate in the event's dynamic discussions and networking opportunities.
Cadwalader has been recognized across a range of practice areas in the 2024 edition of Chambers UK.
Congratulations to our UK team for being ranked in Band 1 of Banking and Finance: Fund Finance. Samantha Hutchinson, Nathan Parker and James Hoggett are all ranked in Banking and Finance: Fund Finance in Bands 1, 2 and Up and Coming, respectively.
You can see the full rankings here.
M&T Bank is hiring a Relationship Manager for Fund Finance to be based in Boston. Candidates should contact Michael Sinclair for additional information.
Last week, the FFA’s Diversity in Fund Finance group hosted its annual teach-in event for Baruch College undergraduates in New York.
It has been a common refrain in the fund finance industry that “hybrid” loan facilities (i.e., loans underwritten on the basis of both a fund’s investor capital commitments and its investment portfolio) are constantly talked about, but are (at least in the PE buy-out space) seldom seen. An internet search returns a bounty of articles citing such facilities as a “cradle to grave” financing solution. Marketing teams crank out glossy presentations touting capabilities to execute such facilities. And conference agendas schedule panels to discuss the nuances of hybrid collateral structures. But the market consensus year after year has been that the number of hybrid deals actually executed has been . . . underwhelming.
Old habits die hard. For the decade leading up to Covid, inflation averaged a very comfortable 1.5%-2.0%. Stable, low inflation meant no one could be blamed for letting “real,” inflation-adjusted thinking fall by the wayside. In 2023, however, clear differentiations between real and nominal trends probably need to stage a comeback.