One distinct and lasting memory that I have of law school is the feeling that I was being let in on a secret. Through the (hundreds of) cases that we read and our other coursework, we were learning about how the world really worked. At the FFA's Symposium in Miami last Thursday, I got that same feeling of being let in on a secret about the way things really work at one of its final panels: “A Geopolitics Discussion with Pippa Malmgren.”
As the private equity and fund finance markets continue to expand with new, innovative products, collateralized fund obligation transactions, or CFOs, are becoming increasingly popular. A panel of experts discussed the nuances of constructing CFOs, from the asset-based lending nature of the rated notes that underpin these deals to the complexity of cash flows, liquidity needs and legal considerations.
