EXECUTIVE SUMMARY - There is a spectrum of potential financing structures for a private credit fund (a “Credit Fund”) to obtain liquidity, including at various levels in the fund structure, such as at the fund level or by...more
The combination of increased regulatory pressure and additional investor demand for higher yield has seen numerous banks gradually displaced by private debt funds in the corporate lending sector (particularly for mid-market...more
As we begin to reflate the CRE CLO business this year with shrinking spreads and hopefully shrinking SOFR, we need to think of this as CRE CLO 3.0. This business, this technology, which is truly a brilliant way to deliver...more
Women in Fund Finance this week hosted “Fund Liquidity Solutions,” a virtual event that looked at some of the most innovative liquidity structuring and solutions being employed across the private markets. ...more
In Europe, the market for loan portfolio sales continues to thrive due to post-financial crisis bank deleveraging and a renewed focus on regulatory capital efficiency and return on capital. This "In Practice" article...more
Today, the U.S. Supreme Court vacated the decision of the Massachusetts Supreme Judicial Court (SJC) in First Marblehead Corp. v. Commissioner of Revenue (First Marblehead) and remanded the case back to the court for...more