Legal Update Archive

LEGAL UPDATES
Private Credit Portfolio Back Leverage

Private Credit Portfolio Back Leverage

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.

Michael P. Gaffney, Mark C. Dempsey, Todd N. Bundrant, Sheel Patel, Linda E. Boss
Subscription Credit Facilities: The Importance of an Investor’s Agreement to Fund Without “Setoff, Counterclaim or Defense”

Subscription Credit Facilities: The Importance of an Investor’s Agreement to Fund Without “Setoff, Counterclaim or Defense”

Executive Summary Subscription credit facilities rely on the obligations of investors to a private investment fund (“Fund”) to...

Kiel A. Bowen, Jonathan R. Rosaluk, Laura M. Watson
Insurance Company Investment – Rated Note Feeder Structures – 2025 Update

Insurance Company Investment – Rated Note Feeder Structures – 2025 Update

On February 11, Mayer Brown’s cross-practice team delivered a webinar on the use of rated note feeders to...

Todd N. Bundrant, Lawrence R. Hamilton, Jennifer T. Hartnett, Claire Gibson Ragen, Jan C. Stewart
Considerations in Continuation Vehicle Transactions

Considerations in Continuation Vehicle Transactions

Continuation Vehicles Continuation vehicles are a tool to allow a sponsor to transfer one or more portfolio assets...

Todd N. Bundrant, Mark C. Dempsey, Jonathan R. Rosaluk
NAV Credit Facility Primer: A Fund Finance Guide

NAV Credit Facility Primer: A Fund Finance Guide

Net Asset Value Credit Facilities: An Overview The Advantages of Net Asset Value Credit Facilities NAV Credit Facilities:...

Understanding Cash Control Events in Subscription Finance

Understanding Cash Control Events in Subscription Finance

Executive Summary Cash control provisions are critical features of any subscription credit facility, safeguarding lenders’ primary repayment sources...

Kiel A. Bowen, William E. Leister
Evolving Competitor Definitions in Fund Finance

Evolving Competitor Definitions in Fund Finance

Recent developments in fund finance documentation reflect a significant shift in how insurance companies are treated under assignment...

Kiel A. Bowen, Jennifer A. Kratochvil
How Regulation W Affects Subscription Credit Facilities

How Regulation W Affects Subscription Credit Facilities

Section 23A of the Federal Reserve Act and its implementing regulation, Regulation W, impose restrictions on banks concerning...

Kiel A. Bowen, Mark C. Dempsey, Todd N. Bundrant, Jonathan R. Rosaluk, Matthew Bisanz
Tips for New Fund Finance Professionals

Tips for New Fund Finance Professionals

In this Legal Update, we provide suggestions for junior finance professionals new to the fund finance market and...

Kiel A. Bowen, Jonathan R. Rosaluk
ESCs in Fund Employee Co-Investment Loan Programs

ESCs in Fund Employee Co-Investment Loan Programs

Fund sponsors may offer their employees and other investment professionals an opportunity to invest in its funds through...

Kiel A. Bowen, Mark C. Dempsey, Daniel P. Bethea