FFA University is back and better than ever. The introductory 1.0 program is scheduled for September 21, while the more advanced 2.0 program will be held on October 5.
FFA’s Diversity in Fund Finance has organized an evening of networking and sake tasting for next Thursday, June 29 in New York.
The FFA and Corrs Chambers Westgarth will host an evening of networking in Sydney on Thursday, July 27 from 6-8:30 p.m. The program will be held at the Corrs Chambers Westgarth office in the Quay Quarter Tower at 50 Bridge Street.
Space is limited, so be sure to register here now. Additional information is available by emailing the FFA here.
While the majority of the fund structures hitting our desks in our subscription finance practice are traditional closed-ended private equity fund structures, we are seeing many more funds with open-ended features. Here we break down for you how these structures differ from a typical closed-end fund, why this structure is attractive to certain investors, and what lenders will want to be thinking about if they are putting together a financing for an evergreen fund.
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In a March 16 hearing before the U.S. Senate Finance Committee, Treasury Secretary Janet Yellen explained that uninsured deposits would be guaranteed only following a determination that “the failure to protect uninsured depositors would create systemic risk and significant economic and financial consequences.” Not surprisingly, given this systemic risk qualifier, deposit uncertainty persists at funds and among institutional bank clients generally, and a move towards severing the lender-depository relationship by borrowing from one institution and maintaining the collateral accounts elsewhere continues.
Subscription lines, NAV, over-allocations ... and the connection between exercise and good health – here's what we're reading this week.
The Huntington National Bank has announced the addition of a fund finance banking team led by senior managing director Brad Boland, a well-known pillar of the fund finance community who was previously managing director of Signature’s Fund Banking Division and has had prior leadership roles at Wells Fargo and Bank of America.
The FFA announced changes to its Board of Directors, with Joe Rocco, Sammy Asoli and Jill Wilson coming aboard and Jeff Maier and Nick Mitra rotating off the board into FFA Advisory Committee roles.
The Fund Finance Association announced its 2023 awards, and Cadwalader was very well represented, with U.S. practice head Wes Misson selected for a prestigious “Annual Contribution to the Industry” award and special counsels Chris Montgomery and Joe Zeidner named “Rising Stars.”
Earlier this week, more than 200 of the top leaders in fund finance met at the first-ever FFA Global Leadership Summit.