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As we head into the Thanksgiving holiday in the U.S. and year-end push throughout the entire fund finance market, we are all thinking about key trends that have emerged and how this sets up for execution next year.
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Subscription credit facilities are a widely utilized product in the fund finance market, offering sponsors access to a reliable source of financing to bridge capital call and to lenders collateral backed by investors’ capital commitments rather than the underlying portfolio assets of a borrower.
In this article, we will explore the complex due diligence landscape that syndicate lenders must navigate when seeking to join a new or existing credit facility.
Cadwalader, KPMG, and TWK Advisors have prepared Credit Risk Transfers ("CRTs") – A Handbook for U.S. Banks. This handbook offers an in-depth look at Credit Risk Transfers, a regulatory capital optimization tool long used by European banks and U.S. non-bank agencies, with new applications emerging for regional and community banks.
The foundations for the Loan Market Association's fund finance work plans are now in place. Over the last months, LMA has thoroughly studied the market, listened to the voices of members and key stakeholders, and analysed market developments to build a solid foundation.
The Fund Finance Association is excited to Announce Ryan Reynolds as a Keynote Speaker for the 14th Annual Global Fund Finance Symposium!
Dear Fund Finance Friday readers, as the holiday season approaches, we want to extend our heartfelt gratitude for your continued support and engagement throughout the year.
To celebrate this special time and prepare for an exciting year ahead, we’ll be taking a brief pause. Fund Finance Friday will return in January, refreshed and ready to bring you more insights and updates.
We wish you a joyous and peaceful holiday season surrounded by warmth, happiness, and cheer and we look forward to reconnecting in 2025!
Elon Musk made headlines earlier this year when he shifted Tesla’s incorporation from Delaware to Texas. This was in reaction to a Delaware court's striking down his pay package—a high-stakes case of taking your ball and playing elsewhere. Some commentators expressed surprise at the Delaware ruling since Delaware courts have typically deferred to the decisions of management and shareholders, especially when they are in agreement (the shareholders approved the pay package). This got me thinking about a key foundation in fund finance that we rely on every day but often take for granted: domicile selection for funds . . .
Securitization of sublines continues to be the hottest of hot topics in fund finance. Whether it could be done, how to do it, and how to overcome certain real and perceived challenges were topics of countless articles and conversations among practitioners and their clients for quite some time, but that all changed in 2024 when we truly saw the dawn of the securitization era for fund finance.
In this week’s Fund Finance Friday, we follow up our primer on capital call securitization piece with an overview of some of the different approaches that can come into play in a securitization of subscription facilities.
Fundraising across private funds will close lower in 2024 but the year-to-date total now exceeds $1.0 trillion, according to the latest data from Preqin. Closing the year above a trillion dollars in new commitments confirms the durable role of private fund allocations in institutional investment portfolios amid a challenging environment.
Cadwalader announced its lawyers who have been elevated to partner, special counsel and counsel, effective January 1, 2025.