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Graham Bippart, the Editor at Private Funds CFO, this week published a cover story for the April/May edition that provides in-depth coverage and analysis of the emergence of ESG-linked subscription facilities.

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Join Women in Fund Finance on April 8 from 11 a.m. to 12 p.m. EDT for a discussion among four industry leaders who will take a look at the current trends of venture capital and how the venture market is completely transforming private equity. Registration is available here

Women in Fund Finance will host a virtual fireside chat with author Alice C. Early on April 13 at 11 a.m. EDT. For more information or to register, click here.

Private Equity International this week published an article discussing how COVID has changed the landscape of key negotiation points between GPs and LPs.

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On the Move

Josh Binder has joined Mizuho Americas as an Associate on its fund finance team. He will support the bank’s initiative to grow its fund finance business by originating, structuring and executing subscription finance facilities for best-in-class fund managers. Josh most recently served as a Credit Risk Associate at Commonwealth Bank of Australia. 

Partner | Fund Finance

Even though the market practice has shifted away from obtaining investor letters (“Investor Letters”) for many subscription-based credit facilities (“Facility”), Investor Letters continue to be an effective option to provide additional credit support for certain types of Facilities with single managed accounts and challenging lender provisions in side letters. One of the reasons for this change is that Limited Partnership Agreements (“Partnership Agreements”) have become much more lender-friendly, provide more robust secured Facility provisions, and include many of the important Investor Letter provisions. Investor Letters have historically supplemented the standard loan and security documents and fund formation documents to provide direct assurances from a limited partner (“Fund Investor”) to a lender that the Fund Investor unconditionally stands by its capital commitment to a fund (“Fund”). In this article, we will explore a few of the key provisions contained in Investor Letters and the significance of each to a lender in a subscription facility.

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Special Counsel | Fund Finance
Associate | Fund Finance

Earlier this week Diversity in Fund Finance hosted a virtual event for its Boundary Breakers speaker series. The series is aimed at having open conversations with senior leaders to give voice to the unique issues and perspectives diverse professionals face. The inaugural event featured Vicky Du, Global Head of Fund Finance at Standard Chartered, and was moderated by Albert Tan, Partner and Co-Chair of the Fund Finance Practice Group at Haynes and Boone.

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Demand for subscription credit facility lines has significantly increased since the beginning of the COVID-19 pandemic, with the current market estimated at around $500 billion in commitments across over 70 lenders. What are fund investors’ thoughts on the increasing usage of subscription credit lines by managers? PERE surveyed 100 institutional investors to figure out just that in its Investor Perspectives 2021 Study. 

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The FFA made two announcements this week: The deadline to submit nominations for the FFA’s 2021 awards slate has been extended until next Wednesday. Additionally, the FFA announced it is hosting a Quarterly Update on April 6th at 11a.m. EST, featuring a fund formation update from Preqin and a market update.  

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Dee Dee Sklar was recognized this week in the March issue of Women Leadership Magazine USA as one of 104 outstanding contributors focused on creating gender equality and empowerment for women in the workplace. While it is great to see Dee Dee receive global business recognition, her relentless advocacy for women is well known to the fund finance community. 

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Recent Issues

April 9, 2021 | Issue No. 121
April 2, 2021 | Issue No. 120
March 26, 2021 | Issue No. 119
All Issues »

Recent Issues

April 9, 2021 | Issue No. 121
April 2, 2021 | Issue No. 120
March 26, 2021 | Issue No. 119
All Issues »
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