As many already know, I recently returned to the office after taking parental leave to be home with my baby girl. In my first Fund Finance Friday article since returning from leave, I would like to take this opportunity to express my gratitude to my colleagues, clients and Cadwalader for supporting me in stepping away to be with my family. I am also using this platform to share some wisdom with those who may not think that it is possible to be a parent with multiple children and have a successful career in Big Law.
Join us on October 23 in Charlotte as we bring together the brightest minds in the industry for a one-of-a-kind event.
Liquidity solutions are a topic du jour in fund finance. With bank balance sheets somewhat restricted by macroeconomic concerns and risk-weighted asset regulations, fund finance borrowers and lenders have sought creative ways to put capital to work. One construct that may open up this optionality is the tranche B facility, a subordinated line of credit that sits within the same transaction as a senior revolver or term loan. This article explores the basic tenets and nuances that may be negotiated for constructing a tranche B facility in your deals.
In a recent article, S&P Global Ratings outlines their criteria for rating certain facilities used by alternative investment funds called subscription lines. These facilities are secured by an alternative investment fund's limited partner capital commitments.
Fitch Ratings has published an exposure draft proposing new rating criteria for NAV Finance. Join their senior analysts on September 10 as they discuss the new rating criteria and answers questions.
Join the Fund Finance Association for an intensive full-day training session in-person in New York on October 17, 2024.
FFA U 2.0 is designed for mid-level bankers and lawyers transacting under U.S. law and will cover advanced issues in subscription facilities, NAV loan structures and issues, Collateralized Fund Obligations and the PE business model.