With the pending cessation of panel LIBOR on June 30, 2023, the LSTA’s Tess Virmani and Meredith Coffey recorded a video with Cadwalader partners Lary Stromfeld and Jeff Nagle that discusses the LIBOR transition, synthetic LIBOR, how the LIBOR Act and Final Rule may fit into remediation plans, and how LSTA members might consider analyzing their credit agreements for remediation. You can access the video and slides here.
In dealing with Luxembourg funds, questions frequently arise about whether the GP alone or together with the AIFM or IM may engage the fund in a credit line. Do these entities need to sign the documentation or provide a prior approval? What is the role of the depositary or custodian in these transactions? In this article in Chambers, Jad Nader and Fabiana Popescu from Ogier's Luxembourg fund finance team answer the question on who's at the helm in Luxembourg funds and offer an insight into the role of each player in the fund.
On Wednesday, February 15, Women in Fund Finance is hosting a virtual discussion with The Band of Sisters, who authored the book "You Should Smile More," which encourages women and all allies of women to dismantle the gender bias in the workplace and everyday life and be a force for change. Learn more and register here.
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Cadwalader’s London Fund Finance team has continued its recent expansion with the hire of Nathan Buckley and Duarte Reis.
In recent years, CFOs and rated feeders have grown in popularity as fund sponsors look to generate increased returns for investors and more traditional fixed income investors seek exposure to non-traditional asset classes such as private equity and secondaries funds. In this presentation, we discuss a number of high-level issues and considerations that should be addressed by fund sponsors when contemplating a CFO or rated feeder structure.
The Fund Finance Association is excited to welcome attendees to the 12th Annual Global Fund Finance Symposium, which is rapidly approaching on February 8-10 at the Fontainebleau Hotel in Miami, Florida. We are pleased to announce that over 1,300 attendees are currently registered, easily making this year’s Symposium the largest FFA event ever.
Nominations have just opened for the 2023 Fund Finance Industry Awards, so don't forget to submit here by March 3rd!
New sources of capital will shake up the fund financing market in the coming years, according to a ground-breaking report into the sector by Funds Europe in association with RBS International. The arrival of new entrants providing fund finance was highlighted by experts interviewed for the report, titled "Trends in fund finance," featuring interviews with professionals in various jurisdictions.
Placement agent and PE investment bank Triago released its Private Equity Review & Outlook − Winter 2022-2023 this week, which includes a transcribed panel focused on non-dilutive financing options for GPs themselves (as compared to GP stakes-type equity solutions). Panelists include Brad Coleman (Hunter Point Capital), Augustin Duhamel (17Capital), Anthony Maniscalco (Investcorp) and Tom Glover (BC Partners). The report can be accessed here.
Next Thursday, January 19, Women in Fund Finance will ring in 2023 with a special New York event, “Private Equity to Entrepreneur,” featuring an evening of cocktails and conversation with Jenn Toyzer, co-founder and CEO of UME Plum Liqueur, who will discuss her career journey from investment banking to business founder. Wells Fargo Managing Director Michele Simons and Cadwalader partner Leah Edelboim will serve as moderators. Click here for more info.