Women in Fund Finance will host a Wednesday virtual event, “Crypto 101: Demystifying Cryptocurrency & Blockchain,” featuring speaker Bob Griffin of WhiteTower Capital Management, LLC and moderated by Fazillah Durante of Scotiabank. Please visit here to register.
Join Women in Fund Finance’s first Paris event of 2022 on June 9. McDermott Will & Emery will be hosting this in-person event at the McDermott Paris office beginning at 6:30 p.m. The concert and conversation is brought to you by Zahia Ziouani, an inspiring Franco-Algerian female conductor and founder of the string quartet, “Divertimento.” Networking and cocktails will follow. To register, click here.
The Fund Finance Association has announced a virtual event titled “Collateralized Fund Obligations: The ABCs of CFOs” for Tuesday, June 14 at 12 p.m. EST. For more information or to register, click here.
Brickfield Recruitment’s latest interview features Emma Russell, FFA’s Europe Chair and Haynes & Boone partner. Emma will discuss her involvement in the evolution of the FFA, its European initiatives, and what’s in store for the FFA European Symposium on June 28 in London.
One aspect of NAV loans that lenders often focus on is the risk of “bad acts” by a borrower with respect to the investments that underpin the loans. For our purposes, NAV loans are loans to alternative investment entities (e.g., private equity funds, secondaries funds, hedge funds, funds of hedge funds, pension funds and family office vehicles) that are underwritten, either on a secured or unsecured basis, by the value of the entity’s investments. When entering into NAV loans, lenders assess the investments owned by the borrowers at closing and then continue to monitor such investments after closing for compliance with financial covenants and other loan requirements. Unlike other types of securities financings (think prime brokerage, securities lending and repo, or typical bank margin loans), where a lender or a third-party custodian on behalf of the lender holds or controls the securities on which the loans are underwritten, the underwritten assets in NAV loans are typically owned and controlled by the borrower, either directly or through one or more subsidiary holding vehicles.
This Tuesday, May 24, Women in Fund Finance will launch a new “Reader’s Series” that will feature members of the fund finance community who are avid readers of non-fiction, with an emphasis on topics concerning both social and economic impacts.
The inaugural event will discuss the award-winning book, Dopesick: Dealers, Doctors and the Drug Company that Addicted America by journalist Beth Macy, who is a prolific writer on the opioid crisis. Also discussed will be award-winning Empire of Pain by Patrick Radden Keefe, a staff writer for The New Yorker and a New York Times best-selling author. The discussion will be led by Walt Jackson of Onex Credit, Mike Henry of U.S. Bank, and Cadwalader’s Leah Edelboim. Click here to register in-person or here for virtual attendance.
The Fund Finance Association’s NextGen network announced a May 25th event focused on team construction and personality types, followed by a networking reception. For more information or to register, click here.
Offshore law firm Wildgen this week published a multi-jurisdiction fund finance security guide, with contributions from many of the leading fund finance law firms. The U.S. chapter was co-authored by Cadwalader’s Wes Misson, Brian Foster and Patrick Calves and is available here.
The Drawdown this week published a guest contribution by Mohith Sondhi of OakNorth Bank covering his forecasts for how macro market volatility will impact fund finance. The subscription-required article is accessible here.
Come join WFF’s fireside chat on June 1 with Mary Schapiro to learn how the financial sector is taking up arms in the battle against climate change. To register, click here.