We are nearing the end of this series of articles (and making good progress through the clauses of particular interest in the fund finance market, which we are examining). This week we turn our attention to the Events of Default contained in an LMA-based subscription/capital call facility.
On January 8, 2020 the Cayman Islands Government published the Private Funds Bill, 2020 (the “Bill”). The Bill builds upon the reputation of the Cayman Islands as a co-operative and transparent jurisdiction and introduces for the first time a requirement for private funds to register with the financial regulator in the Cayman Islands – the Cayman Islands Monetary Authority (“CIMA”).
This week we connect with Guillaume Hartog, who heads the Subscription Finance team within BNP Paribas, covering EMEA and the U.S. Prior to that, he was part of the bank’s Leverage Finance team in London.
Secondaries Investor this week published a Q&A with Pierre-Antoine de Selancy, Managing Partner of 17Capital. The article discusses preferred equity’s appeal to investors as an alternative asset class, the growth in transaction volume and the structural evolution of transactions.