In a Private Funds CFO article, Shelley Morrison, senior investment director of Aberdeen Standard Investments’ fund finance group, discusses the growing trend among smaller banks and major European fund finance banks to build out their syndication teams for the subscription credit facility market. While the pandemic has prompted these banks to examine how to reduce their exposure while fostering their long-standing relationships with their clients, the banks also see the opportunity, down the line, to establish a secondary market for fund finance where they can conduct secondary sales of back-book deals. The article is accessible here.