Securitization has been a major focus in the fund finance industry as of late. Due to a confluence of factors, some of which are specific to fund finance, and some of which are features of the broader economic environment, it seems that fund finance has firmly entered its securitization era. To underscore the incredible amount of interest in the subject, just a few months ago, in June, Cadwalader was a lead sponsor to an extremely well-attended Securitization in Fund Finance conference held in New York. Then, most recently, there was major news in fund finance with the first broadly syndicated publicly rated securitization of sublines hitting the market. We are working on a number of these transactions here.
You, dear reader, may have noticed people discussing these transactions with great interest and predicting where the market may be headed, but what are they actually referring to and how do these deals work? Today, we break that down for you with this summary of ‘why now?’, a description of basic securitization structures, and some additional context you may not have considered.
Please join us in welcoming Alexander Botting, Rebecca Roy, Natalie Klein and Adam LaFleche to Cadwalader.
The fund finance sector has seen notable activity in recent months, including a shift away from sub-lines and the entrance of new players in the market.
Fitch Ratings Senior Director of Fund & Asset Manager Ratings Joyce Fargas recently co-authored a special report on Subscription Finance Facility Securitizations.
Introducing Private Markets Pulse—your monthly gateway into the depth and breadth of S&P Global Ratings’ research and insights on private credit.
The US NextGen Committee is excited to invite you to their networking event at CityPickle Long Island City!
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A record breaking 850 financial industry leaders and professionals from around the country participated in Cadwalader's eighth annual Finance Forum in Charlotte this week!
It was great to meet all together for a day of networking and insightful discussions on the latest market trends and opportunities across various sectors, including commercial real estate, fund finance, leveraged finance, middle market lending, private credit, securitization and structured finance.
We are grateful to our speakers, clients and all attendees who took the time to participate in the event's many dynamic discussions and networking.
Next week's FFF will include more coverage of the Finance Forum. In the meantime, please enjoy these photos!
Ares Management has released an in-depth white paper analyzing the rapid evolution of the fund finance market.