As was briefly touched upon in a prior Fund Finance Friday article “Borrowing Base/Coverage Ratio Approaches in Subscription Finance Facilities,” a subscription facility which uses the borrowing base approach looks at each investor’s commitment to fund and the administrative agent and/or lenders deciding the level of credit that will be given to such commitment for those investors. In certain instances there may be investors that are initially excluded from the Borrowing Base due to certain side letter provisions (i.e., cease funding rights or sovereign immunity), lack of creditworthiness or other legal issues, whereby the lender is concerned about including such investor’s capital commitment in the Borrowing Base and its ability to ultimately be able to call capital on such investor.
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The American Bar Association Business Law Section hosted its fall meeting in San Diego earlier this month. For those readers not familiar with this event, this is a massive gathering of business law professionals from around the world. It includes more than 50 continuing legal education programs and other discussions and events that involve public officials and business law practitioners with about 4,500 attendees from more than 25 countries and more than 300 speakers leading those sessions or serving as panelists.
NAV Financing: The Champion of the Fund Finance Market?
Michael Peterson and Shiraz Allidina, Managing Directors of Citco Capital Solutions, discuss the rise of NAV financing, the ins and outs of its recent scrutiny, and what the future has in store in a recent article in Preqin. Read it here.
This week the FFA’s Diversity in Fund Finance group participated in its annual event partnering with Baruch College’s Financial Leadership Program. For the last seven years, DFF has brought together a community of fund finance bankers and lawyers to present the ABC’s of Fund Finance, providing an introduction to the fund finance industry and various career paths.
Join the Fund Finance Association for an intensive full-day training session in-person in New York on October 17, 2024. Cadwalader's Wesley Misson and Brian Foster will be presenting at the FFA University 2.0, along with other industry leaders.
WFF EMEA is thrilled to announce that Cadwalader, Wickersham & Taft LLP will join Goldman Sachs and Simmons & Simmons as an event sponsor for the upcoming EMEA Annual Networking Drinks Reception!
We are thrilled to invite you to an exciting workshop with Lisa M. Ong, PCC, CPA, a renowned executive coach and consultant specializing in inclusion, diversity, equity, accessibility, and belonging. Lisa, an award-winning speaker, will guide us through essential strategies for navigating career paths, enhancing visibility and influence, networking effectively, and overcoming workplace challenges.
Women in Fund Finance is thrilled to invite you to the 3rd Annual Charlotte Panel and Networking Event.