On February 7 2024, the European Union adopted a final text amending the AIFMD and UCITS directives (AIFMD II). In a recent Client & Friends Memo authored by Michael Newell and Alix Prentice, we focus on loan origination funds and the novel rules applying to them in terms of scope, leverage requirements and liquidity management requirements, as well as important considerations for the grandfathering period as these entirely new rules come into force locally across Europe.
Read more here.
The Drawdown has named Cadwalader among its finalists for excellence and innovation within private fund operations!
The Fund Finance Series Webinar held on February 15th organised by the Luxembourg law firm Praxio Law & Tax and hosted by Michael Mbayi on the topic “2024 Market Perspectives” is now available and includes insights from Cadwalader's own, Michael Hubbard!
The Fund Finance Association NextGen team invites you to join us for an evening of networking!
With the increasing complexity of fund structures and the growing prevalence of US Pension Funds in the European market, we have seen an uptick in the number of queries particularly from European banks and funds around how to structure their security packages in circumstances where direct security is not possible from one or more feeder funds.
Cadwalader had a great time attending the Fund Finance Association's 13th Annual Global Fund Finance Symposium in Miami Beach.
Keep reading for some in-depth analysis from the symposium in this week's issue. In case you missed it, we covered 13 Takeaways from Miami last week.
The hottest acronym at this year’s Fund Finance Association Global Symposium was “CRT” (capital relief trade). The Cadwalader CRT practice has been very busy as of late as U.S. banks have sought their assistance to use CRTs to manage regulatory capital constraints. The fund finance team has been working closely with our CRT colleagues as fund finance clients explore the use of CRTs. Subscription line financings are a fund finance product that is particularly well-suited for these trades. On the first day of the conference, Cadwalader hosted an event for our regional bank clients to learn more about CRTs.
Cadwalader partner and bank regulation head Andrew Karp spoke with Law360 about his joining the firm from the FDIC and the current environment facing the banking industry.