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The Preferred Return Podcast | Balancing Act: Strategies for GPs and LPs in Today's Market
Evolving Landscape of Secondary Transactions in Private Equity — PE Pathways Podcast
2025 Perspectives in Private Equity
Maximizing Financial Growth: Insights on HSAs and Smart Investment Strategies with Shaun Eddy
Investment Opportunities in Italy's Tech Market
The Preferred Return Podcast | AIFMD II – Implementation Begins
JONES DAY TALKS®: Corporate Venture Capital: Market Overview, Trends in Deal Terms, and Special Considerations
A 2024 Economic Outlook - Troutman Pepper Podcast
Business Better Podcast Episode: Investing in Consumer Brands – A Conversation with SBJ Capital
New SEC Private Funds Rules – What Is Happening and What You Need to Know - Troutman Pepper Podcast
PLI's inSecurities Podcast - Alternative Asset Managers in the Crosshairs
Cornerstone Research Experts in Focus: Jules van Binsbergen
Private Equity Perspectives: Episode Three – Interest Rates and PE Deals
International News Spotlight on Private Equity and Private Wealth with Merrick White
Nota Bene Episode 111: Charting the New World of Music Royalty Investment with Sid Fohrman
Digital Health Trends Shaping 2021: Prioritizing Diversity & Striving for Greater Representation
2020: An Unprecedented Year for Digital Health
Nota Bene Episode 106: The Corporate Investor Movement Toward Environmental, Social, and Governmental Policies with Allison Troianos and Ariel Yehezkel
Dark Side of the Moon
Our second quarter 2025 corporate venture capital (CVC) survey indicators continue to show challenging market conditions. However, valuations are on the rise in surveyed transactions. In this survey, we track investment...more
The landscape of subscription line lending is undergoing significant transformation, with both private credit funds (PCFs) and traditional banks playing crucial roles. PCFs, which pool capital from institutional and...more
During this session, the panelists explored whether portfolio company support should come from the sponsor or lenders when portfolio companies require additional funding. They discussed when to deploy sponsor-backed financing...more
Although transfers by investors of their interests in a fund have always been a feature of subscription / capital call facilities, as of late, there has been a palpable uptick in investor transfers and this trend is set to...more
The recent closing by Goldman Sachs of its highly innovative and market leading US$475 million “capital call” securitisation of subscription credit lines has generated a lot of interest in both fund finance and structured...more
This fall, Latham’s Investment Funds Practice provided guidance on financing options and considerations for funds and portfolio companies in the second installment of the Private Funds Breakfast Series. The quarterly series...more
A recent trend in continuation vehicles involves traditional private equity sponsors serving as the “lead investor” in lieu of, or in addition to, more traditional secondary buyers and institutional investors. This expansion...more
As was briefly touched upon in a prior Fund Finance Friday article “Borrowing Base/Coverage Ratio Approaches in Subscription Finance Facilities,” a subscription facility which uses the borrowing base approach looks at each...more
The Pine Cliffs Resort hosted the FFA’s 2024 Global Leadership Summit this week where key players and leaders from across the industry gathered to discuss macroeconomic, geopolitical, policy, legal, regulatory and other...more
At the bottom of the stack in investment fund structures, there are generally “real” assets—things like equity interests in portfolio companies, mortgage loans, commercial receivables, maybe even bricks and mortar. Fund...more
A continuation fund is an entity fund set up by a sponsor in order to purchase an asset (or assets) from an existing fund managed by that sponsor. There are a number of reasons as to why a sponsor would want to pursue this...more
“Increasing allocations will come down to cash flows,” according to Bain & Co. in its recent Global Private Equity Report 2024. The practical impact of net cash flow position for buyout fund investors, reflected in DPI, will...more
Venture capital financing activity in 2023 contracted for the second consecutive year in the face of rising interest rates, concerns regarding the trajectory of the economy and continued geopolitical tension. VC-backed...more
Luxembourg and the Cayman Islands are two of the world’s leading fund formation jurisdictions, and account for a large portion of the private equity funds domicile market. Most private equity fund structures are comprised of...more
With fluctuating capital availability, broadly tightening terms, increasing sponsor demand and pressure on pricing in particular on capital call facilities, the market has been changing, if not challenging, for fund borrowers...more
While Chris van Heerden’s recent article gave some cause for optimism over the fundraising environment for 2024, for now on the ground we are continuing to see significantly longer lead times before funds hit their target...more
The year 2023 presented the fund finance industry with many challenges that it rose to face with an inventiveness and rigour that showed just how mature and multi-faceted the market has become. At Cadwalader in London we saw...more
When an investor chooses a private equity fund, it is a calculated gamble on that fund’s general partner and more specifically its managing principals and the members of the investment team (the “Key Persons”). The Key...more
Recent years have seen significant growth and innovation in the fund finance industry — and, with an increase in the number and complexity of products in the market, it has become commonplace for industry publications and...more
As we enter back-to-school season and look forward to FFA U this fall, we thought a back-to-basics primer on the limited partnership agreement (the “LPA”), which is the legal and credit cornerstone of our product, would be...more
As we close the books on another quarter of deal activity here at Hutchison, it’s time to take a closer look at venture capital financing trends and themes in the innovation hubs we serve across the Southeast. Based on deals...more
As leveraged loan markets have been impacted by a challenging macroeconomic environment, private equity sponsors are sharpening their focus on flexibility in their portfolio companies’ loan documents Given the sharp...more
Side letters are an important component of most fund finance deals. They are reviewed by lenders in connection with due diligence reviews (i) for subscription line facilities to determine the rights and obligations of...more
In this week’s Fund Finance Friday, we will discuss the mechanics around an investor’s right to pre-fund all or a portion of its capital commitment (“Pre-Funding Investor”). In a subscription-based lending facility, a lender...more
For funds that are nearing the end of their investment period and have limited or no remaining unfunded capital commitments, the need to continue a subscription line facility for ongoing liquidity may continue to exist for...more