Legal Update Archive

Mayer Brown Introduces FundFinance.com

Over the past 15 years, we’ve published more than 150 Legal Updates on the fund finance market. Our updates have covered just about every angle, including provisions so niche you’d never think they’d matter—until they do. Individually, each of those updates was written for a moment in time; a response to a market development, a structural innovation, or a legal question that practitioners were actively working through. Collectively, they form something more than that.

Valuation Reports and Fairness Opinions in Fund Finance: Purpose, Application, and Key Considerations

As the fund finance market continues to mature and transactions grow in complexity, valuation reports (or “valuations”) and...

Todd N. Bundrant, Mark C. Dempsey, Andrew H. Miles, Rachel B. Springer

Lien vs. Payment Subordination in Fund Finance

Introduction In the evolving fund finance market, understanding the nuances of debt priority is more critical than ever,...

Kiel A. Bowen, Alexander F. Kingsley

Evolving Lender Landscape in Fund Finance

Overview The fund finance ecosystem is undergoing a transformative shift. What was once a predominantly bank-dominated market has...

Kiel A. Bowen, Alexander F. Kingsley

Sponsor-Arranged Investor Loan Programs

Introduction Large family offices and institutional investors are increasingly utilizing NAV loans on their alternatives holdings as a...

Kiel A. Bowen, Michael D. Kwasigroch

Asset-Level Eligibility Series: Criteria to Consider When Assessing Borrowing Base Credit for Participation Interests

This Legal Update explores the considerations that a warehouse lender should bear in mind when deciding whether to...

Linda E. Boss, Jakarri Hamlin

Preferred Equity: Key Tax Considerations

This Legal Update concludes our three-part series on preferred equity in private capital markets, exploring key tax considerations...

Jason S. Bazar, Lucas Giardelli, Jonathan A. Dhanawade, Stephanie Wood, Amir A. Rousta

Transfer Restrictions in NAV Credit Facilities: Impact on Collateral and Market Solutions

A common hurdle in Net Asset Value (NAV) credit facilities is the presence of transfer restrictions on equity interests. In this Legal Update, we explain how these transfer restrictions operate in NAV credit facilities, their practical implications, and potential solutions for navigating their complexities.

Kiel A. Bowen, Christoper N. Ellis, Megan L. Cicotte

Preferred Equity: Comparing Alternatives and Managing Legal Risks

This is the second in a three-part series on preferred equity in private capital markets. This Legal Update...

Jonathan A. Dhanawade, Todd N. Bundrant, Mark C. Dempsey, Ann Richardson Knox, Frederick C. Fisher, Matthew D. O’meara, Beth D. Vogel, Sheel Patel, Brian Trudgen, Ameer I. Ahmad, Jason S. Bazar, Brian M. Kent, Sean T. Scott, Frank J. Favia, Andrew J. Stanger, Amir A. Rousta, Stephanie Wood

Good Faith and Fair Dealing in Fund Finance Transactions

Every contract is subject to an implied duty of good faith and fair dealing pursuant to principles established under common law, state statutes, and, with respect to certain contracts, including fund finance credit documentation, the Uniform Commercial Code (“UCC”). While lenders and borrowers are permitted to pursue their respective interests, they are obligated to act in good faith.

Kiel A. Bowen, Andrew H. Miles

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Legal Update Archive