Last week, my colleague Chris van Heerden wrote a compelling note forecasting the increased use of fund-level leverage in the United States. Here are some additional practical considerations supporting his growth conclusions.
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What is the correlation between the low yield environment in the EU with the growing use of fund-level leverage in the region? And what does this mean for growth for the U.S. NAV market?
Read More »More than 450 leaders from the financial services, investment management, private equity and legal communities attended Cadwalader’s fourth annual Finance Forum yesterday at the Ritz-Carlton in Charlotte.
The last several weeks have been very active for the fund finance markets: for me, including a trip to London, the Finance Forum in Charlotte, and the FFA finalizing and announcing its headline speakers for the 2020 Global Symposium. Below are some of my observations.
Read More »In the 27th September edition of FFF we ran an article reporting on the 3rd Annual Asia-Pacific Fund Finance Symposium. Among other things, the article predicted a very exciting future ahead for the Asia-Pacific market. It has not taken long for that future to become reality, with the announcement of an ING fund financing facility pegged to sustainability performance.
Fund count up, capital raised down has been the theme for fundraising so far in 2019 based on Q1-Q3 data from Private Equity International, a theme that foots with our experience in fund finance in the first three quarters.
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An essential part of any facility (many would say, the fundamental part) is the question of what utilisations under the facility are actually going to be utilised for.
Read More »Jeff Maier, Managing Director of Private Equity Finance at First Republic Bank, authored an article last week arguing for a flat advance rate as an alternative to the borrowing base formula traditionally used in subscription-backed credit facilities.
Read More »Private Equity International this week ran a fascinating article on PSERS' private equity unfunded capital commitment exposure. The article reports that PSERS’ Chief Investment Officer reported this week on their “subscription line exposure,” which constitutes about 11% of its total unfunded commitments of $10.3 billion as of June 30.
Read More »Fund Finance Partners is looking to hire an Associate or Analyst for its Charlotte office; Cadwalader's Charlotte office is seeking an associate for its Fund Finance practice.
Read More »Private Funds CFO recently ran two articles on subscription lines.
Read More »Here's a look at what we're reading outside the four corners of fund finance.
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