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Private Equity Investment Management Loans

Cadwalader, Wickersham & Taft LLP

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

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

Seward & Kissel LLP

Operating Business Development Companies: A Brief Overview

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Business development companies (“BDCs”) were created by Congress in 1980 to serve as closed-end, venture capital funds for retail investors by financing small to mid-sized U.S. private companies. Since about 2004, BDC...more

DLA Piper

Beyond the Balance Sheet - The Future of Private Credit and Fund Finance

DLA Piper on

The inaugural Beyond the Balance Sheet: The Future of Private Credit and Fund Finance Summit brought together industry leaders to explore key trends shaping private credit and fund finance. Hosted by DLA Piper and Opal, the...more

Cadwalader, Wickersham & Taft LLP

Navigating Transfers January 2025 - Investor Transfers: Lender Considerations in an Everchanging Fund Finance Market

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

Cadwalader, Wickersham & Taft LLP

Inside NAV Loans October 2024 - What’s in a NAV Loan?

The purpose of this article is to unpack the basic building blocks of what constitutes a NAV Loan to make sure that market participants have a basic understanding of what is in a NAV Loan and their key negotiated issues. As...more

Cadwalader, Wickersham & Taft LLP

Welcome to 2024: CWT’s European Fund Finance Market Insights - 2024 European Fund Finance Market Predictions

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

Cadwalader, Wickersham & Taft LLP

Out of Control December 2023 - Change of Control – Back to Basics

This year has seen a significant amount of consolidation of sponsors in the private equity market, and this is a trend that is predicted to continue throughout 2024 and beyond....more

Cadwalader, Wickersham & Taft LLP

Out of Control December 2023 - PEI Annual LP Perspectives Survey

Higher interest rates have rearranged the investment landscape with liquid products offering more attractive value while forward private market returns are somewhat uncertain in light of challenges facing valuations and the...more

Cadwalader, Wickersham & Taft LLP

Out of Control December 2023 - What We’re Reading

Here’s a slice of what we’re reading (and listening to) this week: Bain’s most recent Dry Powder podcast episode discusses internal processes at pension funds, sovereign wealth funds, endowments, and foundations with...more

White & Case LLP

Private equity sponsors intensify focus on flexibility in portfolio company loan...

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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

Cadwalader, Wickersham & Taft LLP

Polishing Up the Crystal Ball December 2022 | Issue No. 204 - 2023 European Fund Finance Market Predictions

It’s that time of year again when conversations are dominated by reflections on our market’s performance over the last 12 months and expectations as to what 2023 will hold for our industry....more

Cadwalader, Wickersham & Taft LLP

Miami, Here We Come - February 2022 | Issue No. 162 - NAV Covenants and Subscription Lines

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

White and Williams LLP

Liquidity in Today’s Economy

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I recently was chatting with a residential mortgage broker and learned that conventional mortgages, those that qualify for purchase by Fannie Mae, carry a higher interest rate than “jumbo” mortgages, those that are too large...more

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