INTRODUCTION - Over the past 50 years, the retirement landscape has steadily shifted from defined benefit (DB) pension plans to defined contribution (DC) plans. In fact, as of the fourth quarter of 2024, private sector DC...more
Cascading pledges are frequently used in subscription finance to avoid legal impediments, avoid tax implications and mitigate prohibited transaction risk under the Employee Retirement Income Security Act of 1974, as amended...more
Net asset value based credit facilities (“NAV Facilities”) are credit facilities pursuant to which the availability thereunder is based on the net asset value of the investments of the borrower, typically a private fund. The...more