Fund Finance Partners' co-founder and partner Richard Wheelahan was featured in a Keynote Interview with Private Funds CFO on the increasingly popular NAV financing market, factors that fund GPs should consider, the state of the market, and how LPs are often supportive of using NAV financing to improve fund returns and achieve other investment objectives.
We're excited to announce that our annual "Cadwalader Finance Forum" is coming back as an in-person event in Charlotte once again on Thursday, October 27.
Cadwalader representations on new fund finance facilities in the U.S. rose 17% in the first half to total more than $27.0 billion. (The final tally may rise as we complete our dataset for June closings.) Growth in fund finance origination comes as overall credit markets have decelerated meaningfully. Corporate bond issuance declined by 26% in the first half and non-mortgage structured products issuance came in 70% below 1H 2021.
You’re invited to Crypto Series Part 2, where WFF will host Michele Cito, Bob Diamond and Cristina Dolan to discuss the impacts of cryptocurrencies and blockchain on the economy and financial markets. Join virtually at 12:00 p.m. Eastern/5:00 p.m. BST/12:00 a.m. HKT on Wednesday, August 10. For more information and to register, click here.
It’s time to secure your spot for the 4th Annual Asia Pacific Fund Finance Symposium at the Shangri-La Singapore. To register for the November 3 event, click here.
Fund Fanatics hosts Jeff Maier and Scott Aleali discuss how the current tech downturn is impacting the early-stage venture capital market with Stephanie Campbell, General Partner of The Artemis Fund. Stephanie discusses bright spots and opportunities in the market and how women-founded and women-led companies are outperforming their peers. To learn more about Stephanie, The Artemis Fund, and fund-raising in the current economic environment, tune into the latest episode.
Kristin Castellanos has recently joined TriState Capital Bank in New York as the Head of Fund Finance, where she will continue to provide capital call financing and NAV-based lending to U.S. domiciled alternative investment funds. Kristin was previously at MUFG.
We are very pleased to welcome Linda Filardi as a counsel to Cadwalader’s Fund Finance Group in New York. Linda's practice focuses on leveraged finance, with an emphasis on sponsor acquisition finance and fund finance, including NAV facilities. Linda has spent a considerable portion of her career in senior in-house legal positions for major financial institutions, including, most recently, as Senior Director and Associate General Counsel at Capital One Bank, where she was responsible for legal management of the Financial Institutions Group, Diversified Industries, Regional Banking and Municipal Finance. You can read more about Linda's experience and background here.
When we think about parties to a subscription credit facility (the “Facility”), all eyes are generally on the fund and the general partner (the “GP”), but the investment manager (the “Manager”) is also a party to watch. For the reasons explained here, the role of the Manager can vary from deal to deal, and, depending on the terms of the fund documents, it can create risk for the Facility lender in a subscription deal. Here we will break down those risks and how incorporating certain terms into your credit agreement can mitigate these risks.
The Wall Street Journal set the stage well for Q2 private funds manager earnings season with its “Buyout Firms Court Fresh Money” story published on July 19. While fundraising numbers took a beating in 1H 2022, the number of funds in the market and aggregate fundraising targets in the pipeline represent a remarkable increase over last year. The story touches on a number of key themes for the moment.