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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
Introduction - Concentration limits are a familiar risk-management tool for lenders in subscription line facilities. By capping the amount of borrowing base credit that can be attributed to any single investor or group of...more
Confidentiality provisions in subscription credit facilities have always served a central purpose – protecting sensitive fund and investor information. These provisions have grown more detailed, more prescriptive, and, for...more
Private credit funds (PCFs) are emerging as key players in the subscription and net asset value (NAV) line market, significantly impacting fund financing. Regulatory changes, economic trends, and strategic innovations are...more
The growth of High Net Worth Individual (“HNWI”) allocations to alternative investments is a hot topic in fund finance. In what is widely acknowledged to be a challenging fundraising environment, fund managers have focused...more
Before a subscription lender can enter into a subscription credit facility with a fund, the subscription lender will need to review the limited partnership agreement (“LPA”) of such fund to confirm the LPA allows for...more
In the past few years we have seen a resurgence of the use of portable alpha strategies tied to hedge fund investments (and the financing arrangements that accompany them), a trend that this old-timer last encountered more...more
The increase in the use of fund finance by private equity is carrying over into the infrastructure fund space, with managers using net asset value and back-leverage facilities to unlock liquidity for investors and portfolio...more
For those that are not aware, Liverpool Football Club have now officially won their record equalling 20th English league football title. For the benefit of non-fans of association football or soccer (“soccer” of course...more
Net asset value (NAV) facility documentation, at least in the context of private equity, has evolved to a large extent on the assumption that borrower funds will usually execute transactions in cash - paying cash on...more
Subscription credit facilities, commonly referred to as “sub-lines” or “capital call facilities,” are a cornerstone of private equity finance. These facilities are secured by a bespoke collateral package that protects lenders...more
In the evolving fund finance market, lenders are constantly assessing ways to mitigate risk and enhance credit support in order to provide for the smooth operation of subscription-based credit facilities. One such credit...more
EXECUTIVE SUMMARY - Subscription credit facilities rely on the obligations of investors to a private investment fund (“Fund”) to contribute their capital commitments to the Fund when called. From a subscription credit...more
In entering into a fund financing, both the Lender and the Fund have expectations that the relationship will be a success. The Lender is appreciative of the association, and the Fund is confident in its ability to raise...more
NEW YORK and LONDON, February 3, 2025 – Leading international law firm Proskauer today shared its 2025 Trends in Private Credit report, highlighting market participants’ strong belief that 2025 is expected to be an exciting...more
Carey Olsen have contributed to the Global Legal Insights – Fund Finance guide by authoring a chapter on assessing lender risk in fund finance markets. As the fund finance market continues to evolve, lenders will need to...more
There has been considerable discussion in the market over the last 12 months about how lenders can increase liquidity and manage the risks that can arise through over-exposure to a particular sponsor, sector or product....more
In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more
As global water shortages worsen, desalination projects are likely to proliferate. Sponsors that can manage project risk will capture significant value while helping the world meet its water needs. Increasing pressure to...more