We will not publish Fund Finance Friday next week but will be back on December 6. Enjoy the good food and football and, of course, special times with family and friends.
Potential revisions to the private placement framework continue to percolate at the SEC. Last week, in remarks to the SEC Small Business Capital Formation Advisory Committee, SEC Chairman Jay Clayton advocated for a critical review of the existing framework of registration exemptions, with an eye towards providing “Main Street” investors with the same extent and quality of investment opportunities as institutional investors.
The United States House of Representatives Financial Services Committee this week took up three bills that would regulate the private equity industry.
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This week we connect with Arnaud Arrecgros, a Finance partner in Maples and Calder (Luxembourg), the Maples Group's law firm in Luxembourg. Arnaud has over 13 years of experience advising on cross-border financing and banking transactions, including fund finance deals in connection with the setting up of bridge and capital commitment facilities, corporate debt facilities, acquisition, asset and real estate financing and restructurings, and securitisations, as well as capital markets matters. |
Meketa Investment Group delivered its Private Equity Program Annual Review to CalPERS at the November 18 Investment Committee Meeting.
Goldman Sachs seeks to add an Associate with fund finance lending experience.
Here are updates to our Fund Finance Calendar.
This article focuses on representations and warranties that are unique to a subscription/capital call facility and provides some colour.
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This week we connect with Pramit Sheth, a Managing Director at Kroll Bond Rating Agency, where he manages the Funds group. Pramit has over 13 years of experience in the credit rating industry. Before leading the Funds group, Pramit was a senior analyst in KBRA’s CMBS analytical team, where he led ratings analysis on a wide range of complex real estate transactions and helped refine KBRA’s rating methodologies in that dynamic market. |
Private equity will be a high-profile 2020 election topic. The U.S. Chamber of Commerce joined the fray this week, releasing an economic study of Senator Elizabeth Warren’s Stop Wall Street Looting Act (the one that removes the limited liability construct). The Chamber’s study concludes that, if enacted, the legislation would result in significant job losses, reduced tax revenues, and diluted investment returns at pension funds and other institutional investors.