In this article, Carey Olsen provides a market update on a new decision of the courts of the Cayman Islands walking back some of the impact of last year’s decision in Padma, and outline their current recommendations to lenders in the space on how to approach the issues raised going forward.
Mark Battistoni of HedgeNAV LLC authored a guest article for Private Funds CFO titled: “International funds consider the transition to a NAV-based liquidity alternative for currency hedging”. The article covers the use of a NAV loan to cover hedging variation margin obligation. The subscription-required piece is available here.
Secondaries Investor published an article on NAV lending and pref equity structures coming off of 17Capital’s recent successful fundraiser. To view the subscription-required article, click here.
Last week I was fishing with my kids on spring break, and my 8-year-old daughter Parker engaged me in a thought-provoking conversation that really stuck with me as I returned to the desk this week. “Daddy, you know Earth Day is next Friday, right?” she asked me. “What are you doing to help the environment?”
Our focus on ESG in honor of Earth Day continues, and here we focus on reliable ESG data disclosure. There are several big projects underway to help lenders to see a greater level of consistency and depth in the ESG reporting information that borrowers produce.
First Quarter bank earnings clarified the new operating environment in 2022 in which loan growth will continue to be a key driver of earnings growth and valuation. Fund finance business lines can continue to be a material contributor in the year.
The Fund Finance Association has announced finalized agenda topics and speakers for the upcoming FFA European University on May 4-5. This year, FFA is offering delegates two tracks, one for those with 0-2 years experience and a more advanced training for those with 3+ years of experience. All registered attendees will have access to the recordings for all sessions. Find out more here.
Fundraising may be more challenging in the second half of the year than in the first, according to PitchBook’s comprehensive U.S. PE Breakdown of the U.S. market published on April 11. “The current fundraising demand from GPs is simply overwhelming LPs’ ability to supply capital,” write the authors. Several factors are at play: (1) megafunds are closing at meaningful step ups, (2) fund drawdowns have shortened and fundraising frequency accelerated, and (3) the number of funds in the market is at an all-time high.
On Friday, May 13, Women in Fund Finance will host a virtual event, “Crypto 101: Demystifying Cryptocurrency & Blockchain,” featuring speaker Bob Griffin of WhiteTower Capital Management, LLC and moderated by Fazillah Durante of Scotiabank. This will be the first installment in WFF’s “Crypto 101” series. Please visit here to register.
Women in Fund Finance’s Asia and UK chapters this week announced a May 18 event titled “Finding Purpose: How to Get More Out of Your Career.” For more information, click here.