News & Analysis as of

Lenders › Contract Terms › Private Equity

Goulston & Storrs PC

Rethinking Liability Management in Club Deals and Direct Lending: Lessons from the Fifth Circuit’s Serta Ruling and Beyond

Goulston & Storrs PC on

On December 31, 2024, the Fifth Circuit Court of Appeals (the “Court”) struck down the controversial 2020 “uptier transaction” executed by Serta Simmons Bedding (“Serta”). The Serta case and several other state court and...more

Cadwalader, Wickersham & Taft LLP

Debt by Design, June 2025 - Permitted Indebtedness

Cadwalader, Wickersham & Taft LLP on

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

Proskauer Rose LLP

Private Credit Deep Dives – What to do following an Event of Default in a consensual setting (Europe)

Proskauer Rose LLP on

Over the past year, we have seen a significant increase in Events of Default (each, an “EoD”) arising from financial underperformance. This trend is largely driven by the high interest rate and inflationary environment, with...more

White & Case LLP

Stop right there – intercreditor standstills that grind to a halt

White & Case LLP on

Standstill periods in private credit intercreditor agreements don't get much attention – they exist to allow senior lenders time to take enforcement action before super senior lenders can step in. But if you're not careful,...more

Mayer Brown

Advantages of Express LPA Third-Party Beneficiary Provisions for Subscription Credit Facility Lenders

Mayer Brown on

An express third-party beneficiary provision running in favor of a lender in a fund’s limited partnership agreement (an “LPA”) is helpful for subscription credit facilities. It bolsters the rights and remedies of a...more

White & Case LLP

Key Insights from the LSTA and DealCatalyst 4th Annual Private Credit Industry Conference on Direct Lending

White & Case LLP on

On May 12 and 13 2025, the Loan Syndications and Trading Associations held its fourth annual private credit industry conference in Nashville, Tennessee—the speakers of which included industry professionals from direct lending...more

Cadwalader, Wickersham & Taft LLP

Key Person, Key Risk, May 2025 - A Key Person Will Never Walk Alone . . .

Cadwalader, Wickersham & Taft LLP on

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

A&O Shearman

Navigating private credit in Türkiye

A&O Shearman on

Türkiye is fast emerging as an increasingly attractive destination for private credit providers looking to deploy capital and diversify their portfolios. Despite this growing interest, relative to its size as the seventh...more

Cadwalader, Wickersham & Taft LLP

Family (Office) Affairs May 2025 - Family Office NAV Facilities

Cadwalader, Wickersham & Taft LLP on

As Net Asset Value (“NAV”) credit facilities continue to grow in popularity, we have seen a steady increase in non-traditional borrowers utilizing NAV loans, including family office borrowers. The term “family office” is used...more

Cadwalader, Wickersham & Taft LLP

Is Cash King? Deferred Consideration and Specie/in-Kind Transactions in the Context of Private Equity NAV Financings

Cadwalader, Wickersham & Taft LLP on

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

Mayer Brown

Subscription Credit Facilities: Understanding the Collateral

Mayer Brown on

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

Katten Muchin Rosenman LLP

Recognition Agreements in Preferred Equity

Katten Muchin Rosenman LLP on

When making a preferred equity investment behind senior mortgage debt, both the senior lender and the preferred investor will have a number of concerns. Under what circumstances may the preferred investor exercise remedies?...more

Mayer Brown

Subscription Credit Facilities: The Importance of an Investor’s Agreement to Fund Without “Setoff, Counterclaim or Defense”

Mayer Brown on

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

Mayer Brown

Understanding Cash Control Events in Subscription Finance

Mayer Brown on

EXECUTIVE SUMMARY - Cash control provisions are critical features of any subscription credit facility, safeguarding lenders’ primary repayment sources while also potentially impacting the Fund’s cash management operations....more

Goodwin

Subscription-Secured Credit Facilities: Recent Developments in the US Market and Considerations for Real Estate Funds

Goodwin on

Fund-level subscription-secured revolving lines of credit are a well-established instrument in the toolkits of a variety of private equity fund sponsors and managers, including for venture capital funds, hedge funds, debt...more

15 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up Log in
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide