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Assessing and mitigating “bad acts” risk in NAV loans
Fund Finance Laws and Regulations 2023April 25, 2023
One aspect of NAV loans that lenders often focus on is the risk of "bad acts" by a borrower. For our purposes, NAV loans are loans to alternative investment entities (e.g., private equity funds, secondaries funds, hedge funds, funds of hedge funds, pension funds and family office vehicles) that are underwritten, either on a secured or unsecured basis, by the value of the borrower's investments. By "bad acts" we mean the risk that a borrower takes actions that cause or result in the underwritten investments and other assets ceasing to be owned by the borrower, or becoming subject to the claims of other creditors, in each case in contravention of the terms of the NAV loan terms.
Related Attorney(s): Angela Batterson, Brian Foster, Patrick Calves
Related Practice(s): Fund Finance
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Cadwalader’s Wesley Misson, Brian Foster and Patrick Calves Co-Author Chapter in Wildgen’s Fund Finance Security Guide
Wildgen’s Fund Finance Security GuideMay 19, 2022
Cadwalader Finance Group co-chair and Head of U.S. Fund Finance Wesley Mission, partner Brian Foster and special counsel Patrick Calves co-authored a chapter in Wildgen’s “Fund Finance Security Guide” describing the security package and related governing law and structuring considerations for subscription and NAV facilities in the U.S.
Related Attorney(s): Wesley Misson, Brian Foster, Patrick Calves
Related Practice(s): Fund Finance
Related Office(s): Charlotte, New York
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Private Trust Companies - US Tax and Regulatory Considerations
Globe Law and BusinessSeptember 1, 2020
While high net worth families and practitioners have used private trust companies for many years in the international estate planning realm, the use of these structures is increasing in the U.S., as driven by a host of regulatory and geopolitical factors. Cadwalader's Sasha Grinberg provides insight into various related tax and regulatory considerations for both practitioners and clients when creating such entities.
Related Attorney(s): Sasha Grinberg
Related Practice(s): Estate Planning & Administration, Institutional Planning, Private Wealth
Related Office(s): New York
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Cadwalader’s Wesley Misson Co-Authors Fund Finance Market Review in the International Comparative Legal Guide to Lending and Secured Finance 2019
GLG's International Comparative Legal GuideApr. 12, 2019
Cadwalader Finance Group co-chair and Head of U.S. Find Finance Wesley Mission co-authored the chapter “The Global Subscription Credit Facility and Fund Finance Markets – Key Trends and Forecasts” in the International Comparative Legal Guide to Lending and Secured Finance 2019.
Related Attorney(s): Wesley Misson
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): Charlotte
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Cadwalader’s Wesley Misson Co-Authors Chapter in Fund Finance 2019
Fund Finance 2019Mar 15, 2019
Cadwalader Finance Group co-chair and Head of U.S. Fund Finance Wesley Mission co-authored the chapter “Lending to Separately Managed Accounts” in Fund Finance 2019, a comprehensive guide to the fund finance market published by Global Legal Insights.
Related Attorney(s): Wesley Misson
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): Charlotte
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Cadwalader’s Brian Foster, Samantha Hutchinson Co-Author Chapter in Fund Finance 2019
Fund Finance 2019Mar 15, 2019
Cadwalader partners Brian Foster and Samantha Hutchinson are co-authors of “The Rise of Private Equity Secondaries Financings.” a chapter in the recently released Fund Finance 2019, a comprehensive guide to the fund finance market published by Global Legal Insights.
Related Attorney(s): Brian Foster, Samantha Hutchinson
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): London, New York
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Cadwalader’s Samantha Hutchinson and Mathan Navaratnam Co-Author Chapter in Fund Finance 2019
Fund Finance 2019Mar 15, 2019
Cadwalader partner Samantha Hutchinson and associate Mathan Navaratnam are co-authors of the England & Wales chapter in the recently released Fund Finance 2019, a comprehensive guide to the fund finance market published by Global Legal Insights.
Related Attorney(s): Samantha Hutchinson, Mathan Navaratnam
Related Practice(s): Fund Finance, Securitization & Asset Based Finance
Related Office(s): London
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