Fund Finance Market Review
In this Spring 2018 edition of our Fund Finance Market Review, we discuss noteworthy developments in the subscription...
Legal Update Archive
LEGAL UPDATES
Why Hybrid Credit Facilities Are Trending
Real estate, buyout, debt, secondary and other closed-end funds have often used subscription-backed credit facilities — also known...
Practice Note on the New Cayman Island’s Beneficial Ownership Regime
What Is The New Beneficial Ownership Regime? Under recently passed legislation (the “Regime”), Cayman Islands companies and Cayman...
Powers of Attorney in Fund Financing Transactions
Introduction A power of attorney (“POA”) is a written agreement wherein an individual or organizational person (the “principal”)...
Basel III And The Move Toward Uncommitted Lines Of Credit
Basel III, a regulatory capital framework for financial institutions, was developed by the Basel Committee on Banking Supervision...
Fundraising and Subscription Facility Growth
Fund financings experienced positive growth and strong credit performance as an asset class through the end of 2016....
Partner and Employee Co-Investment Loan Programs for Private Investment Funds
As the fund finance market continues to mature, fund-related product offerings are expanding both in number and in customization, attracting a broader array of private equity and real estate funds (“Funds”) and credit providers, and increasing the range of the financing products available to Funds and their Sponsors (“Sponsors”) beyond the traditional subscription credit facility product.
Lending to Irish Regulated Funds
Overview of the Irish Funds Industry Ireland is regarded as a key strategic location by the world’s investment...
The Advantages of Subscription Credit Facilities
The market for subscription-backed credit facilities, also known as “capital call” or “capital commitment” facilities (“Subscription Facilities”), continues to grow rapidly, expanding into a broader range of Funds,1 with constantly evolving features and mechanics.
Structuring a Subscription Credit Facility for Open-End Funds
A subscription credit facility (a “Facility”), also frequently referred to as a capital call facility, is a loan made by a bank or other credit institution (the “Lender”) to a private equity fund (the “Fund”).