This Legal Update concludes our three-part series on preferred equity in private capital markets, exploring key tax considerations for preferred equity investments. For background on preferred equity’s core features, structural...
This is the second in a three-part series on preferred equity in private capital markets. This Legal Update examines how preferred equity compares to traditional financing alternatives and the principal...
This is the first in a three-part series on preferred equity. It examines the core features and principal use cases for preferred equity in the private capital landscape. Subsequent installments...
There is a spectrum of potential financing structures for a private credit fund (a “Credit Fund”) to obtain liquidity, including at various levels in the fund structure, such as at...
The rise of the direct lending market has led to a dramatic rise in supporting liquidity strategies to optimize the market. These strategies include the use of financings to provide market participants with leverage and/or supplemental liquidity to support their direct lending activities.
Equity commitment letters (“ECLs”) are a type of credit support that lenders often rely on to facilitate repayment when providing financing to a private investment fund. In this Legal Update,...