Benchmark Rate Reform: Orderly Transition or Potential Chaos?
In the wake of several widely reported LIBOR and other benchmark rate manipulation scandals reflected in headline-grabbing stories...
Legal Update Archive
LEGAL UPDATES
Collateralized Fund Obligations: A Primer
Collateralized fund obligations (“CFOs”) emerged in the early 2000s as a means of applying securitization techniques developed for...
Subscription Credit Facilities: Certain ERISA Considerations
A subscription credit facility (a “Facility”), also frequently referred to as a capital call facility, is a loan...
Management Fee Credit Facilities
As part of the evolution of the fund finance market, some lenders seeking a competitive advantage have expanded their product offerings to private equity and other similar funds (a “Fund”) from traditional capital call facilities made to closed-end Funds to other financing products, including lines of credit to open-ended Funds or separate-account vehicles and net asset value facilities.
Sovereign Immunity Analysis in Subscription Credit Facilities
Subscription credit facilities (a "Facility") are a popular form of financing for private equity and similar investment funds ("Funds").
Enforceability of Capital Commitments in a Subscription Credit Facility
A subscription credit facility (a “Facility”), also frequently referred to as a capital call facility, is a loan...