A Private Funds CFO article titled "Variance reins in subscription facilities in the ‘new normal’" focuses on how COVID-19 has caused a market that many viewed as having generally predictable terms and rates back to a market that has a wide variance in the terms funds are able to obtain from lenders. Fund Finance Partners' Zachary Barnett has observed the shift resulting in more favorable terms for lenders and discusses how fund sponsors may adjust. The article is available here.