When taking security over a portfolio of investments in a NAV facility, it may be difficult or costly to take security over the borrower’s investments. A common solution is to implement what we refer to as the SPV pledge....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
FFF: There is a lot of discussion around the growth of the fund finance market, and it is fair to say that the market has grown significantly, particularly in the PE NAV space – both in terms of participants and structures....more