The Fund Finance Association’s Diversity and Inclusion Initiative this week hosted an educational and networking event for students in Baruch College’s Financial Leadership Program. Natasha Puri of Lloyds Bank led the presentation to the students, which explained what private equity is, how fund finance contributes to the business interests of the funds, and what a fund finance banker does day-to-day.
Cadwalader’s annual Finance Forum, now in its fifth year, will be held virtually on November 12th. While the Finance Forum’s substance covers a host of finance areas – including real estate, syndicated lending, CLOs, securitization, bank regulatory and financial services litigation – there is always a healthy dose of Fund Finance. As always, there is no charge to participate.
The post-Labor Day acceleration we have come to expect over the past several years has defied COVID and stayed true to form. A terrific volume of new matters have gone under mandate in September; the final numbers look likely to double both July and August. And pipeline metrics forecast a busy closing stretch. So our market continues to be incredibly fortunate and robust. Below are some of our September observations as to transactions and the market generally.
Next Wednesday, September 30, 2020, marks the ARRC’s recommended transition date to a “hardwired” approach for LIBOR successor provisions in U.S. dollar-denominated syndicated credit facilities. It also represents the 15-month deadline before LIBOR is to be completely phased out. On the cusp of these pivotal horizons, we assess what you need to know from a fund finance perspective for the next chapter of the LIBOR transition.
The Fund Finance Association opened registration for this fall’s week-long Virtual Fund Finance Symposium, to be held November 16-20, which will include daily sessions with an Asia-Pacific, European and global emphasis.
Marilia Shewchenko recently joined Rochford Capital as Managing Director UK. Marilia previously worked at Validus Risk Management, where she was Head of Risk Advisory, and has over 10 years of experience in financial markets. Marilia is heading the expansion of Rochford Capital into the UK market.
In this week’s edition of FFF, I take a look in Part 1 at how the secondaries market is poised to seize the day and, in Part 2, how seizing the day from a personal perspective can deliver outsized returns….
In this week’s Fund Finance Friday: Industry Conversations, FFA Board Member Nick Mitra joins Mike Mascia and discusses the FFA’s upcoming Virtual Week, including the schedule and format for the European and Asia days, sponsorship opportunities, and individual ticket sales, as well as how the FFA is hoping the pivot to virtual will enable a greater number of participants to access the regionally focused content.
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We are often asked by clients and non-Irish law firms about:
- whether Irish law account security is appropriate for lenders to Irish investment funds with an Irish depositary which has appointed sub-custodians who ultimately hold the fund assets in accounts outside of Ireland; and
- in circumstances where Irish law account security is appropriate, what security packages are available and customary in Ireland in respect of depositary accounts held by Irish investment funds.
As such, we have set out a brief (and hopefully helpful) summary of these issues below.
In this webinar series, Michael Mbayi, Director at Wildgen S.A., is joined by panelists who are experts in the fund finance industry across the U.S., Europe and Asia. This webinar covers the state of the fund finance market over the past quarter, as well as current trends and future outlook going into the fourth quarter.