Family offices increased borrowing against private equity holdings in Q1 to access capital for investment opportunities during the market dislocation, according to intel from UBS summarized by Institutional Investor.
Is the asset class immune to economic downturn? As the pandemic affects the world economy, general partners are in need of capital to support portfolio investments and take advantage of new opportunities. However, today versus a decade ago, GPs are in a better position to weather the storm and are exploring more creative funding tactics to bridge the liquidity gap, according to an article in PitchBook.
Secondaries Investor analyzes how a decline in second-quarter valuations could impact the SPV-leverage market. While banks are healthy, a temporary decrease in lenders participating in the SPV-lending market could lead to secondaries portfolios trading at lower prices and large buyers sitting out the action.
Bond funds and ETFs are experiencing massive inflows, a green shoot for the fundraising environment in the second half.
As I write, Geoff Woolf, one of my former colleagues and partners who I have always regarded as a mentor, is severely ill with COVID-19. We have written a lot in many recent editions of Fund Finance Friday about the impact of this awful virus on our world, the economy and Fund Finance in all its aspects, but underlying all of that, of course, are the innumerable ripples being felt by so many people around the world at this time as their families, friends and colleagues are impacted.
Melanie Herald, Managing Director, Head of Alternative Lending at State Street, joins Cadwalader’s Mike Mascia in this week’s podcast edition of Fund Finance Friday: Industry Conversations. Melanie discusses her role at State Street and her team’s market focus in fund finance. She also discusses the impact of COVID-19 on her team’s business, as well as that of the bank’s clients, and forecasts how the market is likely to evolve as a result of the disruption.
Earlier this week, Women in Fund Finance hosted a "Global State of the Market" virtual presentation where members from across the U.S., Europe and Asia provided updates on what they are seeing in the market during the COVID-19 pandemic with respect to fundraising, sponsor behavior and investor insight. Members also discussed the challenges women are facing around balancing careers and family life (including home schooling and plans for summer).
According to The Drawdown, there has been a recent rise in LPA amendments primarily focused on changing investment strategies, extending investment periods and allowing for access of more liquidity. This article features two Cadwalader partners, Samantha Hutchinson and Michael Newell.
Jeff Maier, Senior Managing Director – Private Equity Finance at First Republic Bank, recently joined TresVista for a podcast on the fund finance market, including subscription facilities, management fee facilities and other fund finance products.
Standard Chartered just closed on one of the first-ever impact-focused subscription finance facilities with one of the world’s largest private markets investment managers. The aim of the new-age facility is corporate social responsibility and to promote investments in sustainable projects.