Lots of Developments in Small Business Finance - The Consumer Finance Podcast
CFPB-New York AG Lawsuit Analyses Against Subprime Auto Financer - The Consumer Finance Podcast
Patient Steering and Charting
Leaders Moving Business Forward with Shirmila Ramasamy of the World Bank
Tips for Dentists Starting or Acquiring a Dental Practice
Roadmap to Joint Venture Agreements: Legal and Accounting Considerations
Exit Strategies for GOVCONs with Set Aside Contracts: 2021 Insights and Lessons Learned from Business Owners and Advisors
M&A Strategies for the Acquisition of Insolvent/Financially Distressed Targets
Meritas Capability Webinar - Transactions in a COVID-19 Environment
Nota Bene Episode 72: Space Law: License, Launch, Finance, Insurance, and Responsible Space Stewardship with Brian Weimer
[WEBINAR] Building a Solar Energy Project in 2018
Cameras Roll on Spicer and Miller Discussing 2016 Entertainment Trends and Looking Forward to 2017
Financing Challenges for Small Cap Companies
How Leading Philippine Companies are Using Bonds to Their Advantage
Homebuilder Series Webinar: Joint Ventures Solutions, Steve Lear
Structuring an MLP Finance
Financing Trends in Life Sciences – Interview with Bill Whelan, Member, Mintz Levin
The Transformation of the VC Business Model – Interview with Bill Whelan, Member, Mintz Levin
The purpose of this article is to unpack the basic building blocks of what constitutes a NAV Loan to make sure that market participants have a basic understanding of what is in a NAV Loan and their key negotiated issues. As...more
As most Fund Finance Friday readers probably already know, over the summer, the Institutional Limited Partners Association (“ILPA”) issued guidance for Limited Partners (“LPs”) and General Partners (“GPs”) around the use of...more
Executive Summary - Over the last several years, a need has arisen in the fund finance market, which caters to private equity, venture capital, family offices, and other investment funds (“Funds”) and their sponsors, for...more
This year is starting to feel a bit more normalized after the 2021-2022 record origination numbers followed by the 2023 market disruption. In many ways, Fund finance has passed the stress test and moved forward. What has 2024...more
Last week saw almost 1,140 registrants attend the FFA’s annual symposium at the Queen Elizabeth II Conference Centre in London. As ever, the event brought together a wide range of market participants from across the industry,...more
On 23 April, the UK’s banking regulator, the Prudential Regulation Authority (“PRA”), published a letter to Chief Risk Officers setting out the results of a thematic review of private equity related financing activities....more
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more
The year 2023 presented the fund finance industry with many challenges that it rose to face with an inventiveness and rigour that showed just how mature and multi-faceted the market has become. At Cadwalader in London we saw...more
Higher interest rates have rearranged the investment landscape with liquid products offering more attractive value while forward private market returns are somewhat uncertain in light of challenges facing valuations and the...more
Recallable capital is a hot topic these days in both subscription financing and NAV financing transactions, both at industry events and in the press. There has been a good deal of attention to this concept in the NAV market...more
It has been a common refrain in the fund finance industry that “hybrid” loan facilities (i.e., loans underwritten on the basis of both a fund’s investor capital commitments and its investment portfolio) are constantly talked...more
Here's what we're reading this week. Sponsor consolidation is likely to accelerate in response to challenging fundraising conditions, according to sources cited in the FT’s Private equity is in for rampant consolidation...more
Subscription lines, NAV, over-allocations ... and the connection between exercise and good health – here’s what we’re reading this week. Private Funds CFO provided a subline market update in Borrowers turn to new...more
PEI’s Fundraising Report 2023, published this week, provides a timely update on the state of play in private market capital formation. The feedback loop conundrum facing private markets emerges as one of the main themes in...more
Happy New Year! As we begin the new year and look back at the developments in the fund finance market in 2022, and look forward to what 2023 has in store for us, one common theme is the continued increase in the use of NAV...more
It’s that time of year again when conversations are dominated by reflections on our market’s performance over the last 12 months and expectations as to what 2023 will hold for our industry....more
For funds that are nearing the end of their investment period and have limited or no remaining unfunded capital commitments, the need to continue a subscription line facility for ongoing liquidity may continue to exist for...more
Cadwalader has recently seen a growth in the number of funds formed in Jersey and Guernsey that are party to subscription and NAV facilities. Trent Lindsay and Cassandra Best spoke with Julia Keppe, Senior Counsel at Walkers...more
The use of net asset value finance by private equity firms has spiked under COVID-19 as managers explore new sources of liquidity in a weak M&A market - Until recently, net asset value (NAV) finance—where PE sponsors...more
On October 11, 2017, the Fund Finance Association (the “FFA”) hosted its 3rd Annual European Fund Finance Symposium (the “Conference”) at the Landmark Hotel in London. Forty-two market participants sponsored the Conference...more