Subscription Credit Facilities: Continuation Funds
When using a subscription credit facility for a continuation fund, lenders and borrower funds should keep in mind...
Legal Update Archive
LEGAL UPDATES
The Advantages of Credit Ratings for Subscription Credit Facilities
More common in Europe, the prevalence of obtaining credit ratings for subscription credit facilities has increased in the...
Subscription Finance: Alternative Currency Capital Commitments
It has become increasingly common for private equity funds to accept capital commitments in multiple currencies within the...
The Advantages of Net Asset Value Credit Facilities
The market for net asset value (“NAV”) credit facilities continues to grow rapidly, with evolving features and mechanics....
Credit Facilities: Waiver of Consequential Damages and the Interplay with Indemnification Provisions
Credit facility documents typically include a waiver of consequential damages and an indemnification provision. While these provisions are...
Equity Commitment Letters: Understanding How They Differ from Guaranties
Equity commitment letters (“ECLs”) are a type of credit support that lenders often rely on to facilitate repayment...
Forms of Credit Support in Fund Finance
In the fund finance market, there are a wide array of financing structures that are utilized by private...
Subscription Credit Facilities: Concentration Limits
In a subscription credit facility, the borrowing base is typically calculated by applying reductions, commonly referred to as...
Default Interest Considerations in Subscription Credit Facilities
Default interest provisions are often included in subscription credit facilities, and there are various ways parties can handle...
Subscription Finance: Understanding Umbrella Facilities
In an effort to improve cost effectiveness and documentation efficiencies in the subscription finance market, participants have developed...